Cancellation
Tags: contract, duration agreement, duurovereenkomst, notice period, opzeggen, opzegging, opzegtermijn, overeenkomst, termijn, terminate, termination, voorwaarden.
‘Cancellation’ is an act in contract law, the purpose of which is to terminate the agreement. The question of whether and how parties can cancel an agreement must be answered per agreement.
Most agreements stipulate the conditions and terms so that it can be cancelled.
Duration Agreement
If it concerns a (long-term) agreement for an indefinite period, in which no cancellation option has been arranged, the agreement can in many cases still be cancelled on the grounds of reasonableness and fairness. However, oftentimes there will be consequences for the terminating party. A notice period will have to be observed and / or compensation will have to be paid to the other party.
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