When an individual signs a credit card agreement he enters into a legally binding and enforceable contract with the credit card company. The terms and conditions of the contract are elaborated within the card agreement including repayment terms and the incidents that will give rise to a default or breach of the contract. Breach of Contract If the cardholder fails to remit payments pursuant to the terms of the credit card agreement, once the account is in default, the card company has the right to sue the debtor for breach of contract. The...