termination

End in time or existence; close; cessation; conclusion. Perruccio v. Allen, 156 Conn. 282, 240 A.2d 912, 914.

Word for purposes of insurance, refers to the expiration of a policy by lapse of the policy. Waynesville Sec. Bank v. Stuyvesant Inc. Co., Mo.App., 499 S.W.2d 218, 220.

With respect to a lease or contract, term refers to an ending, usually before the end of the anticipated term of the lease or contract, which termination may be by mutual agreement or may be by exercise of one party of one of his remedies due to the default of the other party. As regards a partnership, term refers to a winding up and cessation of the business as opposed to only a technical ending (as upon the death of a partner) which is a dissolution. A dissolved partnership may terminate or may be continued by a partnership of the remaining partners, including perhaps the estate or heirs of the deceased partner.

Under the Uniform Commercial Code, "termination" means legally ending a contract without its being broken by either side. U.C.C. No. 2-106.

See also dissolution

- expiration

- lapse

@ termination of conditional contract

To abrogate so much of it as remains unperformed, doing away with existing agreement under agreed terms and consequences. To put an end to all of the unperformed portions thereof. Blodgett v. Merritt Annex Oil Co., 19 Cal.App.2d 169, 65 P.2d 123, 125

@ termination of employment

Within policies providing that insurance should cease immediately upon termination of employment, means a complete severance of relationship of employer and employee. Edwards v. Equitable Life Assur. Soc. of United States, 296 Ky. 448, 177 S.W.2d 574, 577, 578.

See also employment at will

- wrongful discharge

@