"To break the contract" means to not fulfill the promises or obligations agreed upon in a contract and to stop following its terms and conditions. Full definition
A divorce decree may specify who is responsible for accounts opened during the marriage, but it doesn't break the contracts with the lenders. (experian.com)
Then consider all the other charges for breaking the contract. (moneysense.ca)
But he is not allowed to sell her to foreigners, since he is the one who broke the contract with her. (religion.blogs.cnn.com)