How Do You Terminate A Contract Letter?
A contract letter is a legal document designating agreed upon terms and conditions between two or more parties. Once signed or executed, all parties named in the contract letter are entitled to performance per the stated terms and conditions, including any clauses or sections regarding termination of the contract letter. Review the terms and conditions of the contract letter with careful attention to the details. Note paragraphs that reference termination, rescission, revocation or end date. Consult with an attorney if anything in the termination language of the contract is unclear or confusing. Determine the terms under which termination is permitted under the contract. For example, the contract may allow for immediate termination in the event of a material breach of its terms and conditions. Or the contract may have a stated end date included, resulting in a natural point of termination. Assess whether the non-terminating parties to the contract letter are entitled to advance notice.
