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 of any other obligation that has been duly subscribed through an official document. And it enjoys a special use within the legal sphere, which is where contracts and agreements are usually signed and also where they resort to cancel them or to demand their fulfillment.
Contract breach, a recurring cause of termination
One of the most common factors that trigger the termination of a contract is that there has been a breach of the conditions established therein. 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 courts to address his 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 hears the case may require the party that is at fault that in any case he has to pay the full contract to his counterpart because he did not effectively comply with what was agreed in a timely manner. In other words, the contract will be canceled but the affected party must collect the entire contract.
Termination clauses
This situation usually occurs 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 states in the contract that if there is a termination of the contract, a large monetary sum must be paid in compensation.
Other grounds for termination
Other causes of the termination of a contract can be: contractual termination, death, revocation, nullity, non-existence, and voidability.
However, each legislation has regulations regarding the limits and scope of a contractual termination, while the usual thing is that the person in favor of whom the contract is made is the one who has the power to terminate it. The other party can do it as long as the case warrants.
