contract dissolution
[ˈkɑːntrækt ˌdɪzəˈluːʃən]
nounpl: contract dissolutions
dissolução de contrato
1. The legal termination or annulment of a contractual agreement between two or more parties, rendering the contract void or ending its obligations
The contract dissolution was finalized after both parties agreed to the settlement terms.
A dissolução de contrato foi finalizada após ambas as partes concordarem com os termos do acordo.
2. The process of formally ending a binding agreement before its natural expiration date
They filed for contract dissolution due to breach of terms by the supplier.
Eles entraram com pedido de dissolução de contrato devido ao descumprimento de termos pelo fornecedor.
In Brazil, contract dissolution is a formal legal process typically requiring documentation and adherence to specific clauses outlined in the original agreement. The concept is heavily regulated under Brazilian civil law and commercial law, with different procedures for consumer contracts versus business-to-business agreements. In the USA, contract dissolution varies by state law and often requires consideration of whether the dissolution is mutual or unilateral.
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