Cancellation Agreement
/ˌkænsəˈleɪʃən əˈɡriːmənt/
Definitions
- (n.) A contract in which parties mutually agree to void or rescind an existing agreement or obligation.
The parties signed a cancellation agreement to terminate their contract without penalties.
Forms
- cancellation agreement
- cancellation agreements
Related terms
See also
Commentary
Typically used to formalize the mutual termination of contractual obligations, ensuring clarity on the rights and duties upon cancellation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.