terminación del acuerdo
Definition
Terminación del acuerdo is Spanish for 'termination of the agreement,' which means the official ending of a contract between two or more parties. This can happen because the contract naturally ran its course, both sides agreed to end it early, or one party broke the rules of the deal.
Example
If you signed a one-year supply contract with a vendor and they repeatedly delivered the wrong products, you might invoke the terminación del acuerdo clause to legally walk away from the contract before the year is up.
Watch Out
Make sure any contract you sign spells out exactly what steps you must follow to properly terminate it, because skipping those steps can leave you on the hook for penalties even after you think the deal is done.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.