If you wish to get out of contractual obligations and end a contract you must do so lawfully, otherwise you could face legal action by affected parties. At Nath Solicitors in London we can advise you on ending a contract in the correct way to avoid potential problems.
The contract generally contains provisions for termination. These should be followed to end the contract lawfully. We will check these for you, interpret any tricky clauses, and advise you on how to end the agreement in a way that protects your best interests.
When can I terminate a contract?
You can bring a contract to an end for a number of reasons, including:
- by giving notice – most contracts state the amount of notice that must be given before terminating for any reason, for example 30 days. If you have entered into a contract with a supplier and the contract does not include provisions for ending the agreement with notice, you may not be entitled to end the contract simply because it no longer meets your business needs. Think carefully – ideally at the negotiation stage – before entering into such an agreement.
- terminating the contract at common law – you can terminate contracts at common law following a repudiatory (serious) breach. However before doing so, you should examine the termination clauses within the contract. Often these will state the aggrieved party must give the party in breach the opportunity to rectify the situation before they end the contract.
Terminating a contract because the other party has breached the conditions of the agreement is not a straightforward process. Expert legal advice is required to ensure expensive, stressful claims and potential litigation are avoided.
We can assist those who want to end a contract as well as those threatened with cancellation of a contract against their will.
We offer practical, commercially sensitive legal advice, and work quickly to get your matter resolved so you can get on with growing your business.
To discuss how we can assist you with contract termination, call our London office on 0203 670 5540 or contact us online.