Termination clause (definition)

Definition of a termination clause

The termination clause is a clause in a contract providing advance its automatic termination in the event that either party breaches any of its contractual obligations. The party that has committed the breach can not in this case to challenge the termination in court. In practice, the termination clauses are common especially in the lease contracts (eg a clause may for example provide termination of the lease if the tenant does not pay the rent).
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