| Commentary

23.3 General

| Commentary

(c) Termination for Breach or Insolvency

23.3 General

In any agreement containing obligations of a continuing nature, one party will wish to be able to terminate the agreement if the other party is in serious default. At common law, one party may rescind the contract where the other party has committed a serious or fundamental breach by defective performance or has repudiated the contract. It is always advisable to provide expressly for the circumstances in which either party may treat the contract as at an end. In the absence of such provision, it is not always clear whether a particular

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