- In a contract, when one party reneges on the agreement, the other party is notified and is no longer responsible for fulfilling their expectations.
- A notification that one party plans not to fulfill obligations set forth in a contract making it impossible for the other party to fulfill their end of the agreement.
invalid, unfulfillable, unachievable, negated
Related Terms and Acronyms
- Breach of Contract (BOC) — Acronym,
- Failure to abide by terms of a legal agreement without a legal excuse.
- Contract — Definition,
- An agreement between two or more parties that can be enforced by law.
- Non-Disclosure Agreement (NDA) — Acronym,
- A contract that disallows one or more parties from disclosing information covered by the contract.