Canceling a contract by both parties?
Can a contract be canceled if both parties agree to terminate the contract even before the time of expiration documented within the contract? Does this apply if there is no time of expiration documented?
Can a contract be canceled if both parties agree to terminate the contract even before the time of expiration documented within the contract? Does this apply if there is no time of expiration documented?
Comments
A contract can be modified or terminated at any time by agreement of all parties. While a verbal contract can theoretically be cancelled verbally, it is always better to put everything in writing to minimize misunderstanding.
Yes.
In writing signed by both parties.