What is the legal term for ending an agreement?
Asked by: Adrienne Gorczany PhD | Last update: July 27, 2025Score: 4.9/5 (29 votes)
Contract termination is the process of ending a contract before the obligations within it have been fulfilled by all parties. This means that one or more parties have made the decision to conclude the contract earlier than they had originally agreed when drafting and signing it.
What is it called when an agreement ends?
Terminating a contract is the conclusion of the agreement, whether it's an early termination – before one or more parties fulfill their contract obligations – or the natural end of a relationship between the parties.
What is the term for end of agreement?
The "Term of Agreement and Termination" clause outlines the duration for which the contract remains in effect and specifies the conditions under which either party can terminate the agreement. It typically includes details on the start and end dates, renewal options, and any notice requirements for termination.
What is it called when you cancel an agreement?
This is called an express right to terminate. Express right to terminate a contract refers to a clause or provision included in a contract that allows one or both parties to end the agreement under certain circumstances.
What is the legal term closing?
The term is often used at the end of real estate transactions when the parties exchange deeds for payment and final signatures. Normally, the process is facilitated by a lawyer or agent of a lending company which can involve over twenty required documents due to regulations such as title insurance forms.
Contract Law in 2 Minutes
What is a synonym for final closing?
cease cessation close ending finale finish stop terminus.
What is the legal definition of closure?
Closure is defined under Section 2(cc) of the I.D. Act, which was inserted by the Industrial Disputes (Amendment) Act, 1982 (46 of 1982). It defines closure as the “permanent closing down of a place of employment or part thereof.” Such closure may be either forced or voluntary and can be a result of various reasons.
What's another word for Cancelling a contract?
Other forms: rescissions. If you've really had it with your business partner, you may make a motion for rescission to dissolve your legal ties. Rescission refers to the canceling of a contract or other legal agreement.
How to legally end a contract?
Write a termination contract letter
A contract termination letter allows you to give written notice of your contract's cancellation. It clearly states intent and limits your liability, which arerequired if you're looking to avoid issues while terminating a contract. Writing the letter is simple.
What do you call it when you break an agreement?
Breach of contract happens when one party to a valid contract fails to fulfill their side of the agreement.
What is another word for stopping a contract?
The words conclude and terminate can be used in similar contexts, but conclude may imply a formal closing (as of a meeting). When can end be used instead of terminate? In some situations, the words end and terminate are roughly equivalent.
What is the word for finishing a contract?
In the real world, you're more likely to see the word termination used when a contract, program, or job comes to an end, unexpectedly or as planned. the act of giving up and abandoning a struggle or task etc. the act of dismounting (a horse or bike etc.)
What is the legal definition of cancel?
In a legal context, to cancel is to render something otherwise valid as void or no longer in effect. For example, a person might write a check and then destroy it or write “void” across its face; both would successfully eliminate the check's ability to serve as legal tender .
What is the professional way of saying contract ended?
When a contract ends because all of the parties to the agreement have performed or completed all of their contractually stipulated duties and obligations as negotiated, it is usually said that the contract has been discharged.
How do you end a legal document?
One of the teaching points is to end correspondence with “Yours sincerely” or a similar phrase when writing to someone by name. “Yours sincerely”, “Sincerely yours” and “Sincerely” are all possible. “Yours sincerely” is the most common. “Sincerely” is one often used by lawyers.
What are the termination terms of an agreement?
Termination grounds: A termination clause outlines the conditions or grounds under which parties can terminate the contract. These grounds may include failure to meet performance expectations, contract breach or nonperformance, mutual agreement, insolvency, and change in circumstances.
How do you say contract is ending?
Directly state your purpose for writing in the first paragraph of your letter. While maintaining a respectful tone, succinctly state why you've chosen to terminate the contract. In addition, specify the date you intend to officially end your working relationship.
What is the clause to end a contract?
A termination clause is a written section within a contract that outlines the circumstances in which the agreement can be terminated. Termination clauses allow a contract to be legally ended by a party before the duties outlined in the agreement are fulfilled.
What is the proper termination of a contract?
It shall serve a written notice to the Supplier/Contractor/Consultant of its decision and, unless otherwise provided, the Contract is deemed terminated from receipt of the Supplier/Contractor/Consultant of the notice of decision. The termination shall only be based on the ground(s) stated in the Notice to Terminate.
What is the term for ending a contract?
Contract termination is the process of ending a contract before the obligations within it have been fulfilled by all parties. This means that one or more parties have made the decision to conclude the contract earlier than they had originally agreed when drafting and signing it.
What is a nice word for cancellation?
abandonment abolition annulment dissolution elimination repeal retirement reversal revocation. Strong matches. abrogation deletion dissolving invalidation nullification recall repudiation retraction undoing.
How do you say "cancel" in a professional way?
Here are some examples: "Unfortunately, I have to cancel our appointment for [date and time]. I apologize for any inconvenience and would be happy to suggest a new date." "Due to unforeseen circumstances, I am unable to keep our appointment on [date].
What is a proper closure?
“Closure might vary from person to person. However, closure ultimately is an understanding and acceptance that a relationship has ended and often includes a rationale for why it ended,” explains Dr. Beth Ribarsky, professor of interpersonal communication with expertise in romantic relationships.
What is the law of closure in simple words?
Definition: The principle of closure states that people will fill in blanks to perceive a complete object whenever an external stimulus partially matches that object. Even when we're missing information, we tend to make sense of our environment by filling in the gaps to see a complete object.
What is a closure agreement?
A closing agreement is a final agreement between the Service and a taxpayer on a specific issue or liability. Under IRC 7121, the Service can negotiate a written closing agreement with any taxpayer to make a final resolution of any of the taxpayer's tax liabilities for any period.