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To terminate a contract, it's crucial to closely examine the contract's termination clause, as this area of law can be risky if mishandled. Typically, termination clauses require specific steps to be followed. Generally, you must provide written notice within a specified time frame—often 30, 60, or 90 days—and send this notice to a designated key person mentioned in the contract. Failing to adhere to these requirements can expose you to significant legal liabilities. Therefore, understanding the process outlined in the contract is essential for a proper termination.