The termination of an agreement or contract, regardless of the initiating circumstances, is known as dissolution. This could occur due to various reasons such as the completion of contract terms (performance), a court order, or mutual agreement among the parties involved.
In contract law, performance refers to the completion of duties and obligations specified in the contract. Proper performance by all parties ensures that contractual objectives are met and can prevent disputes.
Termination in real estate entails the conclusion of contractual obligations such as leases, loans, or options either by performance or by breach.
