What is the Meaning of Termination | Definition and What is Termination
Termination is the action and the effect to terminate (cancel, stop or an end to a legal obligation or a contract). By making a termination, therefore, will cancel or stop a legal act which had been contracted in advance.
Examples: "termination of the contract of the American will cost several thousand dollars to the team from the capital", "If the authorities decide the termination of the concession, we will go before the international courts", "Lionel Messi has the most expensive termination of history clause."
Each legislation lays down the limits and scope of the termination. Usually, it is the person to whom the contract is sent which is able to terminate. This is not to say that consideration cannot request cancellation of the contract if justified by a reason which arises. In any case, it is Justice that will have to decide whether such interruption of the contract is valid and if it corresponds to the case in question.
The violation of the terms of the contract is a just cause for the termination of a contract. If this is true, the injured party has the right to claim compensation because failure is at the origin of the dissolution of the contractual obligation.
In general, one can speak of three types of termination: (when there is a mutual consent of the parties), judicial (that is issued by a judicial body against damage caused by one of the parties) or random (for reasons external to the will of the subject).