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Terminating a contract. Eek! What are you gonna do? All right well, stick around and I'll tell ya. Hello Simon here from The Contract Company. -Contracts it's what we do, all day every day, and sometimes overnight, Lucky us! And that's true. Contracts are interesting. Right, you wanna terminate a contract right. Now, the reason I said "Eek" is because it is one of the areas of law where you really are exposed if you get it wrong. So let's just step back. How do you terminate a contract? The key thing in terminating the contract is to look at the actual contract and examine the termination clause. Now most of those sorts of clauses, because we've seen hundreds, most of those clauses will set out a process of things you have to do. Usually you have to provide notice, one in writing and of a certain time period, 30, 60, 90 days of notice. The fourth thing you have to do often is send that notice to a key person that's specified in the contract. So it might say that if you want to issue a...
