When can I terminate a contract?

UPDATED: Oct 1, 2022

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When can I terminate a contract?

I have a business partnership agreement with an mutual individual for about a year now. However my partner has not been doing what was agreed in the contract. We assigned roles that were supposed to be done by both parties. He has not and cannot prove that he done his part of the work. Also, he has failed to pay his half of the bills for the last two months which was also agreed upon on. What are

my rights when to terminate the contract?

Asked on January 10, 2018 under Business Law, Colorado


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

A contract may be terminated when one party (e.g. your partner) violates "material obligations," or important terms, of the contract--not paying his share of bills. When a contract is terminated, the other party (you) is absolved of his/her obligations going forward; you could also sue the other party (your partner) for any provable costs or losses arising out of the breach (for example, for the money for the bills, if the partner should have paid 1/2 but didn't, so you ended up paying the whole amount).

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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