Final answer:
The duty referred to in the question is known as mitigation of damages, which requires the non-breaching party to take reasonable steps to limit their losses resulting from a breach of contract.
Step-by-step explanation:
The duty mentioned in the question pertains to the legal concept commonly known as mitigation of damages. This principle requires the non-breaching party in a contract to make reasonable efforts to reduce the losses it incurs as a result of the other party's breach. For example, if one party breaches a contract to deliver goods, the non-breaching party should seek to obtain the goods from another source. By doing this, they might prevent or reduce the losses caused by the breach, such as lost profits from an inability to fulfill their contracts.
This concept of mitigation of damages does not obligate the non-breaching party to take extraordinary steps or suffer additional burdens but does hold them responsible for taking reasonable actions to avoid amplifying the financial harm.