Termination is a formalized action through which a legal relationship is no longer valid, that is, it is canceled and ceases to be in force.
Termination means that what was previously established is of no interest to one or both parties for some reason. Termination is a breach of agreement , from a legal point of view a court declaration is required to declare the annulment of the agreement or contract.
Different cases of termination of a contract
A contract is considered void when the requirements established by law are not met. Therefore, in this case, there is a termination in the sense that a legal rule annuls the agreement.
Also when one of the parties is willing to cancel the mandatory contract relationship.
A contract can be terminated when the parties involved voluntarily decide to nullify its validity (in this case, the most appropriate term to express this breach would be termination rather than termination).
Of course, both these cases mentioned and others are subject to the legislation in force in each country.
Termination clause in sport
In some sports (especially football) there is the famous termination clause. Basically it consists of the following: a value is established, that is, a fine in a player’s contract that must be paid if he is bought by another team; this is because the contractual relationship between the athlete and his team is still in effect.
Termination of labor relations and its consequences
Termination of employment means the termination of a legal relationship in the field of employment. Between the employee and the employer there is an employment contract which can be terminated at any time for various reasons depending on each legislation. We can name a few:
- -For any type of indiscipline on the part of the worker;
- -For negligence or imprudence of the worker, harming the company’s interests ;
- -For disobedience of the worker;
- -The worker also has the right to terminate his contract if the pre-established agreements are not fulfilled;
- – Due to the termination of employment, the laws establish a series of obligations that must be fulfilled, especially those related to salary , premiums or the proportional payment of vacations