Glossary · Doing the deal
In short
This is a significant violation of a contract's terms that undermines its entire purpose. It can allow the non-breaching party to terminate the contract and seek damages.
In an acquisition, if either the buyer or seller commits a material breach of the purchase agreement (e.g., seller hides liabilities, buyer fails to secure financing as agreed), the deal can fall apart. Your purchase agreement should clearly define what constitutes a material breach and the remedies available.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
Line up financing while you're under LOI
Tell us the business, the price, and your timeline — we'll match you with lenders who close deals like yours and flag anything that stalls the process.
Free · No documents · Usually same-day