terminate

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terminate

To end.(1) For leases,this term implies an ending before the natural expiration time, as by default.When reviewing leases, pay close attention to the rights and responsibilities “upon termination”or “at expiration,”because these are two completely different circumstances. (2) For partnerships, it means the end of the partnership business and affairs, although that might technically be before formal dissolution of the partnership.(3) Under the Uniform Commercial Code,it means legally ending a contract,without default by either side.

References in periodicals archive ?

A Contractor who terminates on account of the Employer's breach is typically entitled to immediate payment of sums due to it under the contract, together with out of pocket expenses (including its demobilisation costs) and interest.

What happens when it all goes wrong? Terminating a construction contract from a UAE law perspective

It tends to be even more difficult to terminate a distributor that is highly dependent for its revenue on a single supplier.

Breaking up is hard to do: how to divorce your Japanese distributor and live to tell about it

The party seeking to terminate the contract then deems the contract terminated.

Termination of Construction Contracts in Qatar

It provides that a taxpayer may terminate a previously made election out at any time, by attaching a termination statement to his or her gift tax return, filed by the due date of the return for the calendar year in which is made the first transfer to which the election out is not to apply.

New regs. on elections for indirect skips: final regulations on indirect skip transfer elections give taxpayers many generation-skipping transfer tax planning options. This article explains the election rules and available planning opportunities under the new regulations

Based on the above cases, the Tax Court concluded that HCMP's failure to terminate the partnership under the procedure outlined in the partnership agreement with a resulting lawsuit were sufficient to prevent a termination even if no business was being conducted by the partnership.

Partnership terminations

The board at Wednesday's meeting voted 4-1 to terminate Abraham retroactively with cause, with the dissenting vote cast by director Steve Fox.

OUSTED CEO FIRED AGAIN HOSPITAL WANTS SEVERANCE PAY RETURNED

The court in the Pullman case recognized that a cooperative board's broad powers to terminate a tenancy could lead to abuse through arbitrary or malicious decision making, unlawful discrimination or the like.

Court grants shareholders right to evict tenants

To avoid this, the acquiring firm may choose to have the target firm terminate its plan prior to merger or acquisition.

CLOSING THE DEAL IRONING OUT PENSION PLAN ISSUES DURING A MERGER OR ACQUISITION

Delta Air Lines' pilots want a $1 billion payment if the airline decides to terminate an employee pension plan.

Airline Finance News

However, if the transaction does not so qualify, the QSub election will terminate when the assets are transferred, unless it has always been an S corporation and elects to continue that status under Regs.

Current developments

The public and the media must know and understand that the chief is subject to many guidelines and restraints, and that proposals to terminate an officer must be reviewed before and concurred on afterward by several levels of command within the Los Angeles Police Department.