Careful review of contracts can reduce risk for your organization. Whether you’re signing a lease agreement or a multi-million dollar service agreement for new software, contracts are a fact of life in any business. A contract review requires diligence and an eye for detail. This means that the value of the contract has been destroyed by the breach. A non-material breach will not usually end the agreement. • The letter should offer a solution to the breach. If it is too late to fix the problem, the breach notification letter will serve to cancel the agreement and seek damages. Offer and Acceptance: Every contract must include a specific offer, and the acceptance of that specific offer. Mutual Consent: The offer and acceptance must be freely consented to by the parties, without coercion. All parties must agree to the same terms, and all must intend for a binding agreement to be formed.