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Commodities in Focus Weekly: A quick guide to contractual break-ups - Guidance on termination
Issues arising out of the termination of contracts are not in short supply. We are often presented with clients who are seeking advice on whether to terminate a contract, how to validly terminate, and what to do once a contract has been terminated. Whilst the provisions and the interpretation of each contract will differ, what is certain is that parties must strictly adhere to the contract in order to validly terminate it.
In this article we briefly discuss the different types of termination and offer guidance on what will constitute a valid termination under common law and under contract.
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