During your personal and professional life you are bound to enter into numerous legal agreements. But an often-overlooked question when you enter into an agreement is: when and how can you get out of the agreement? This generally depends on what was agreed in the terms and conditions of the contract.
Fixed-term: an agreement will end when the contract says it will end. If the agreement was only intended to last for a few months and expressly states that it will end on a pre-determined date, then the agreement will end on that date. Some agreements provide for a renewal. This renewal can be automatic, in which case you would need to notify the other party if you would rather the agreement terminates (and not renew). Or the renewal can be at the option of one or the other party, in which event you would have to notify the other party if you don’t want the agreement to terminate (and do want it to renew).