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The Termination of Contract Notice is a formal notice of a party's intention to withdraw from a contractual obligation because of the coronavirus pandemic. The party will send this letter to end a business relationship with another party with whom they had previously entered a binding contract.
When a party enters into a binding contract or agreement with another party, such as a Partnership Agreement, Supply Contract, Joint Venture Agreement, Franchise Agreement, and other contracts, they are required to fulfill their obligations under their agreement, and failure to do so may amount to a breach or violation of the contract.
Generally, a party may be liable for breach of contract if they terminate a contract before its natural expiration. In some cases, the party may be allowed to withdraw from the contract under certain circumstances. Under the general law of contract, a party can end or cancel a contract under the doctrine of frustration or sometimes referred to as force majeur, without being liable for breach of contract.
Frustration in contract or force majeur is a supervening event(s) or circumstance(s) that makes it impossible for a party to contract to fulfill their obligations in an agreement, thus culminating in the cancellation of the contract. Such circumstances include, but limited to, war, pestilence, and plagues. In such cases, parties can cancel their contract without being cited for violation of the contract. Consequently, relying on the doctrine of frustration or force majeur, a party may use this letter to withdraw from an agreement if the COVID-19 pandemic has made it impossible for them to carry out their obligations under the contract.
How to use this document
This form can be completed by entering the full names and addresses of the party sending the letter and party receiving the letter, the title of the contract is being cancelled, the date of the contract, and the reason for cancelling the contract. After completing the document, it should be printed and signed by the party sending the letter.
After signing, the sender can send the letter to the recipient either by hand or by email. The sender of this notice can also keep a copy of this letter for record purposes.
The general rules of contract apply to this document.
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