How Can You Terminate The Sales Contract?

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How Can You Terminate The Sales Contract?
How Can You Terminate The Sales Contract?

Video: How Can You Terminate The Sales Contract?

Video: How Can You Terminate The Sales Contract?
Video: How to Terminate a Contract? 2024, November
Anonim

Each transaction that is carried out within the framework of civil law must be documented. First of all, the parties conclude an agreement. If an asset is sold, the sale and purchase agreement is used. According to the Civil Code of the Russian Federation, a legal document can be terminated by agreement of the parties, at the request of one of the parties, or as a result of significant changes.

How can you terminate the sales contract?
How can you terminate the sales contract?

Instructions

Step 1

If the contract is terminated by agreement of the parties, an additional document is not required. But in order to avoid problems, you can send a notification letter to the counterparty. Explain in it the reason that prompted you to terminate the contractual relationship. Then draw up and sign the supplementary agreement. In it, be sure to emphasize that the parties have no claims to each other.

Step 2

In the event that one of the parties violates the terms of the contract, the document may be terminated by a court decision. To do this, contact the authority with a claim. Attach to the request all available documents confirming the fact of non-compliance with obligations (this may be a reconciliation act, which indicates the amount unpaid on time). It should be noted here that the request for termination of the document should be submitted when the counterparty refuses to terminate the contractual relationship. That is, you must send a letter of demand to him. Here list the reasons for terminating the contract (failure to meet delivery deadlines, late payment, and others).

Step 3

According to article 451 of the Civil Code of the Russian Federation, the sale and purchase agreement may be terminated due to a significant change in any circumstances, if the parties have not come to an agreement on bringing the document in line with the changed situation. Such circumstances include the absence of goods on the market (if it was about resale), the method of delivery of the goods (for example, the products must be delivered by rail, but something has changed in the schedule and the terms have shifted), etc.

Step 4

The date of signing the supplementary agreement will be the date of termination of obligations under the agreement. If you applied to the court, the legal document will be terminated from the moment the court decision comes into force.

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