Preference for termination of the contract for breach of contractual obligation

Abstract

When a contract is created, valid and enforceable, it must be executed ( ), given that execution is the natural way to terminate the contractual bond. However, matters may arise that may lead to the termination of the contract before its execution, which may occur as a result of the creation of the contract or in the future, resulting in its termination and lapse from the time of its conclusion, meaning retroactively, or only in the future. What is meant here, in particular, is the penalty for annulling the contract, which is the case that the Iraqi legislator has dealt with in its various forms, whether by force of law as a result of the parties including a dissolving condition, or judicial annulment ( ). If the principle in contracts is that the contract is the law of the contracting parties, meaning the freedom of the parties to determine the purpose and content of the contract, based on the contractual freedom of the parties in an effort to achieve their own interest while taking into account the essential controls, which constitute a restriction on contractual freedom, namely public order and public morals, then any transgression of these requirements by the parties is sufficient to taint the contract with a defect of invalidity, meaning the termination of the contract and the severance of the contractual bond, and the essence of this research is the annulment of the contract as a result of the failure of one of its parties, who is usually the debtor of the contractual obligation, to fulfill his obligation, and of course the annulment is decided in this case for the party creditor of the contractual obligation