Stipulation in a contract that allows a buyer or seller to cancel the contract in the event of a certain specified occurrence.

Definition A contract provision that allows the termination of obligation if certain conditions or events occur. For example, a cancellation clause in a lease can allow the landlord to break the lease [..]

Terms by which a contract may be cancelled and the subsequent penalties incurred by the cancelling party.

A provision in a lease that confers upon one or both of the parties to the lease the right to terminate the lease upon the occurrence of the condition or contingency set forth in the said [..]

Terms and conditions by which a contract may be cancelled and the subsequent penalties incurred by the cancelling party established. See Contract.

A provision in an insurance contract that permits the insurer or the insured to cancel a policy at any time before its expiration date.

An agreement or provision in a lease or other contract that clearly defines the conditions under which the parties can call off the deal.

Cancellation clause is a provision in a contract for the termination thereof by one of the parties. In contracts of insurance, it is a clause in a charter-party whereby the charterer reserves the righ [..]

A clause in an insurance contract which permits an insurer and/or an insured to cancel the contract before it is due to expire. The clause may provide for a return of premium in respect of the unused portion of the policy.

A clause in an insurance contract which permits an insurer and/or the person insured to cancel the contract before it is due to expire. The clause may allow for the refund of part of the premium in re [..]

A general insurance clause permitting the insurer to terminate insurance cover during the policy term. The clause sets out the notice procedure the insurer must follow, and the basis for refunding the [..]

provision in contract detailing terms of cancellation, including penalties.