termination
Definition
Termination means formally ending a legal relationship, like a contract or employment, before or at the end of its natural life. One or both parties can trigger a termination, and the contract itself usually spells out exactly how and when that can happen.
Example
If you hire a freelance web designer under a 6-month contract and their work repeatedly misses deadlines, your contract might allow you to terminate the agreement early without owing them the remaining payments.
Watch Out
Always check what your contract requires before terminating, because skipping required steps like written notice or a cure period can turn a justified termination into a costly breach of contract claim against you.
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.