Termination of contracts

A contract may come to an end in a number of ways:

• Performance

  Most commonly parties simply perform their contractual obligations

• Agreement

  Parties may agree to end their contractual obligations

• Breach

  One or both parties may fail to perform important contractual obligations

• Frustration

  Unpredictable external factors may prevent the parties from performing their obligations which may allow them (in limited circumstances) to bring contractual obligations to an end