cancel the contract vs exit the contract

Both phrases are correct, but they are used in slightly different contexts. 'Cancel the contract' is commonly used when referring to terminating a contract before its completion, while 'exit the contract' is less common and could imply leaving a contract without necessarily terminating it.

Last updated: March 20, 2024 • 993 views

cancel the contract

This phrase is correct and commonly used when referring to terminating a contract before its completion.

This phrase is used when you want to end a contract before it is finished or before the agreed-upon terms are met.

Examples:

We need to cancel the contract due to unforeseen circumstances.
The company decided to cancel the contract with the supplier.
If you cancel the contract now, there may be penalties involved.
The client requested to cancel the contract with the service provider.
It is important to know the terms and conditions when you cancel the contract.

Show examples from the web [+]

Two copies of the Notice of Cancellation, the form which you send to the company if you decide to cancel the contract. The seller must fill in the date the sale was ...
Dec 22, 2015 ... In those cases, you can cancel the contract for any reason within 10 days of receiving a written copy of the agreement. Water heater contracts ...
Apr 29, 2015 ... You and the others involved can cancel the contract by mutual agreement at any time. You may want to offer some compromise by offering to ...
Additionally, if you contracted to purchase a rare comic book for $2000 at a trade show, you may be able to cancel the contract within 3 days provided the trade ...

Alternatives:

terminate the contract
end the contract
void the contract
annul the contract
rescind the contract

exit the contract

This phrase is correct but less commonly used. It could imply leaving a contract without necessarily terminating it.

This phrase might be used when referring to withdrawing from a contract or disengaging from it without necessarily ending it completely.

Show examples from the web [+]

How to exit the contract is often the last thing on anyone's mind, the focus is to move quickly; meet the demands of the customer; obtain the best deal and get ...
There should also be some provision to allow you to exit the contract without penalty in the event that the manager is not able to secure a tenant within an ...
Therefore, courts and statutes provide minors with the ability to exit the contract at the minor's discretion. This right does not belong to the other contracting party; ...
When annual termination and semiautomatic renewal is written into the contract, both parties have the opportunity to exit the contract, without proving cause, ...

Alternatives:

withdraw from the contract
disengage from the contract
leave the contract
opt out of the contract
abandon the contract

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cancel the contract vs exit the contract