Termination of Contract
/tɜːrmɪˈneɪʃən ʌv ˈkɒntrækt/
Definitions
- (n.) The legal act of ending a binding agreement between parties, either by fulfillment, mutual consent, breach, or operation of law.
The termination of contract occurred after both parties agreed to dissolve their obligations.
- (n.) The point at which contractual duties cease and neither party is further bound.
Upon termination of contract, all pending obligations were released.
Related terms
See also
Commentary
Termination of contract often requires clear manifestation by parties; drafting precise termination clauses can prevent future dispute.
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.