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ARTICLE · 20 MAY 2024

Contract Termination Checklist May 2024

Lewis Silkin
Lewis Silkin
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Lewis Silkin

Lewis Silkin

Joint managing partners: Jo Farmer, Richard Miskella International offices: Dublin, Hong Kong...

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We have produced a contract termination checklist exploring issues to consider when terminating contracts, common pitfalls and how to avoid getting it wrong...

United KingdomEmployment and HR
Andrew Wanambwa
Andrew Wanambwa
Nigel Enticknap
Nigel Enticknap
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Assess the position - Including whether you have grounds to terminate, and, if so, on what basis. The consequences of getting it wrong can be serious. Terminating without a right to do so may well amount to a repudiatory breach, which the counterparty could accept and then sue for damages. Terminating on the wrong basis may rule out valuable claims or counterclaims.

Consider whether termination is the best commercial option - In some circumstances, even if the counterparty is in breach, it may make better commercial sense for you to affirm the contract (e.g. where the counterparty is one of a limited number of suppliers of particular goods or services) or seek a variation.

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