Associated Builders, Inc. v. Coggins
Maine Supreme Judicial Court
722 A.2d 1278 (1999)
Relevant factsFree
Under a debt-settlement accord, the Cogginses (defendants) agreed to pay Associated (plaintiff) $25,000 by one date and another $25,000 by a later date, with Associated forfeiting a remaining $20,000 debt if both payments were timely made; the Cogginses made the second payment three days late, and Associated sued to recover the forfeited $20,000 anyway.
IssueFree
Whether a slight delay in payment under an agreement, which causes no detriment to the party receiving payment, is a material breach of the agreement.
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