1) in a contract, a happening which terminates the duty of a party to perform or
do his/her part. 2) in a deed to real property, an event which terminates a person's
interest in the property. Examples if the Dingbat Company closes its business, a
supplier will not be required to fulfill its contract and deliver gidgets to the
company and the contract will terminate; if daughter-in-law Beatrice terminates
her marriage to Reggie Fauntleroy, her interest in the real property will terminate
and revert to the grantors, Mom and Dad Fauntleroy.
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