What is the most common consideration for an agreement to terminate a contract?
What is the most common consideration for an agreement to terminate a contract? Common reasons for terminating a contract include unsatisfactory performance of the whole or part of the contract by the other party, refusal by the party to perform the contract at all, or that the other party has breached some other provision of the contract.
What happens if a contract is silent on termination?
If the contract is silent as to its term and termination, then the Court will likely imply a term to the effect that the contract can be terminated on “reasonable” notice.