Armin Hohenadler

As a general rule, an agreement can only be legally terminated if there is a legitimate reason to do so. This may be one of the following offences: breach of contract – if one of the contractors does not fulfil his contractual obligations, it is an offence. As a result, the non-infringing party is allowed to recover its losses. Termination clauses are often used in master-swap contracts, for example.B. In this case, they define certain circumstances in which a party is no longer financially able to complete the swap transaction. Mutual agreement – both parties agree to cancel the agreement and all obligations it has established. We cite a few examples of the start of a conditional contract and the termination of contracts under preconditions. Here are some examples of what a termination clause can be: error, fraud or misrepresentation – if the agreement does not contain all the necessary information or does not present certain circumstances that are important for its completion, this is a valid reason for termination. Execution – an agreement is terminated when all parties involved have fulfilled their obligations under the agreement. A termination clause is a written provision contained in an agreement specifying the circumstances under which the agreement may be terminated. The termination may take place before the obligations set out in the agreement are fulfilled. The termination clauses can still be adjusted, but the standard clauses are included in almost all agreements.

Termination clause – If the contract contains a termination clause, it may set specific circumstances in which the contract may be terminated. For example, some contracts, such as shareholder contracts. B, are terminated when a shareholder ceases to hold shares in a company. Another common case of redundancy clauses is employment contracts. Here, they are used to define faults or violations that may lead to the dismissal of an employee. Such behaviour may include inexcusable sick leave, repetitive or unsatisfactory work. It also explains the circumstances in which a worker may terminate his or her job before the notice provided by the contract. According to English law, the duration of the contract is its duration: the duration of the contract remains in force.

Impossibility of delivery – due to unpredictable and uncontrollable circumstances, it may be impossible for the parties to an agreement to perform their respective tasks. The duration of the contract can also be extended automatically or by notice. . The alternative is that the contract expires at the end of an initial period set for a specified period. They can also be completed in different ways: . 1-300, 301-600, 601-900, it is simply referred to as „the term of the contract.“ This agreement begins when it is signed and renewed for a period of two years and is then automatically renewed for successive periods of one year, unless it is terminated in accordance with its terms.