Concept in Definition ABC

Cancellation or cancellation of a contract or any other obligation that has been signed

The concept of termination is used in our language to indicate the annulment or cancellation of a contract or any other obligation that has been subscribed in a timely manner through a document official. And it enjoys a special use within the legal plane, which is where contracts, agreements are usually signed and also where they resort to cancel them or to demand their compliance.

Contract breach, a recurring cause of termination

One of the factors The most common triggers for the termination of a contract is that a breach of the conditions established therein has been incurred. In this case, when it is indeed proven that there has been a fault, the party that is affected by that breach will have all the right to ask the Justice to attend to your claim to receive compensation for that fault.

The party affected by the breach in question will have every right to argue that due to the lack of fulfillment of a condition of the contract, it can be terminated. Meanwhile, the justice that understands the case may require the party that is at fault to in any case You have to pay the full contract to your counterpart because you did not actually comply with the agreement opportunely. In other words, the contract will be canceled but the affected party must collect the entire contract.

Termination clauses

This situation tends to occur a lot in the field of football with the contracts that the technical directors and players sign with the clubs. There are millionaire termination clauses, especially in the case of stars such as Lionel Messi, who always leaves evidence in the contract that if there is termination of the contract, a large monetary sum must be paid on compensation.

Other grounds for termination

Other causes for the termination of a contract can be: contractual termination, death, revocation, nullity, non-existence, and voidability.

Now every legislation has a normative Regarding the limits and scope of a contractual termination, it is common for the person in favor of whom the contract is made to be the one who has the power to terminate it. The other party can do it as long as the case warrants.