Contract termination refers to the legal process of ending a contract before its original completion date. This can occur for various reasons, such as mutual agreement between the parties, fulfillment of the contract's terms, or breach of contract by one party. When a contract is terminated, the obligations of the parties involved may cease, but certain rights and responsibilities may still remain. There are different types of contract termination, including termination for cause and termination for convenience. In a termination for cause, one party fails to meet their obligations, while termination for convenience allows a party to end the contract without needing a specific reason. Understanding the terms of a contract is essential to navigate termination properly.