Dictionary of Business Terms: cancellation clause
cancellation clause
contract provision that gives the right to terminate obligations upon the occurrence of specified conditions or events. A cancellation clause in a lease might allow the landlord to break the lease upon the sale of a building.
Dictionary of Real Estate Terms: cancellation clause
cancellation clause
a contract provision that gives the right to terminate obligations upon the occurrence of specified conditions or events.
Example:A cancellation clause in a lease may allow the landlord to break the lease upon the sale of the building.
