Cancellation Clause

Definition

• A precaution or provision in a lease or contract that details the conditions under which the parties involved can terminate the agreement.

Synonyms
expiration, end, termination requirement, fine print, stipulation, void, dissolution clause, nullification

Related Terms and Acronyms

• Contract — Definition,
  • An agreement between two or more parties that can be enforced by law.
• Lease (lse) — Abbreviation,
  • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
• Rescission — Definition,
  • Cancellation of a contract by agreement of the parties.