Termination of contract
TERMINATING CONTRACTS

Contracts are terminated for different reasons and under different circumstances.
One is that all the parties to a contract have completely
performed the duties they had to perform according to its terms. But
suppose that, before the parties completely perform their duties, they
decide to call it off. The following sample is the basic language for an
agreement between two parties to terminate a contract and release
each other from all duties to be performed.

Sample:

TERMINATION OF CONTRACT


Date: _________________


The undersigned have entered into a contract dated ___________________________ (the “Contract”)
for the purpose of:

painting a building

The undersigned acknowledge that, by their mutual agreement, the Contract is hereby terminated
without further recourse by either party.

The termination of the Contract shall be effective on (date)