Termination Of Contract For Convenience In Massachusetts
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FAQ
To form a contract, the parties must mutually agree to the terms and conditions of their promises. This is often referred to as “mutuality” or a “meeting of the minds.” When an agreement is mutual, it means that the parties communicated to each other their agreement to the same terms and conditions.
Mutual Agreement: Both parties may agree to terminate the contract early. This is often the simplest and least contentious method. Termination Clauses: Many contracts include specific clauses that outline the conditions under which the contract may be terminated before its natural conclusion.
Always cancel in writing. You can use the cancellation form or send a letter. Keep a copy of your cancellation notice or letter. Send your cancellation notice by certified mail, return receipt.
A cooling-off period is a certain amount of time, usually three days, where a contract can be redacted without reason. You may decide you simply don't want the product or service you signed up for.
The termination for convenience clause is designed to give the terminated party a more fair and equitable result than if it were terminated for cause since the termination does not result from its wrongful conduct — a breach of the contract.
A “termination for convenience” clause states that a property owner may terminate a contractor at its convenience for no reason at all. There does not need to be any breach of contract in place. However, the clauses typically require advance notice (such as 30 days).
How do you write a Termination Agreement? Provide the names and mailing addresses of each party involved. Provide details from the original contract. Select a termination date after which the contract will no longer be in effect. State if either party is providing compensation as part of the Termination Agreement.
