The great thing about being able to fire a person or a contractor, or any kind of counterparty is that the option to terminate a contract brings accountability.

FORBES: Who Doesn't Like Being Able to Fire People?

In a statement, Aldi Ireland said it was necessary to terminate its contract with Silvercrest "due to a serious breach of contract".

BBC: Horsemeat row: Aldi is latest to drop Silvercrest

If Bank of America matches any competing offer, there is no further right to terminate the contract for a superior proposal, it added.

FORBES: Now It's War

Morals clauses are typically worded in such a way as to allow a brand to immediately terminate an endorsement contract, without any penalty, should the athlete endorser act in a certain manner that would tarnish the reputation of the brand.

FORBES: Nike's Disassociation From Lance Armstrong Makes Nike A Stronger Brand

If Silver Wheaton chooses to terminate the contract with Barrick over a failure to meet its commitments, it will have a negative impact on its expected silver stream quantity by 2017.

FORBES: How Bad Will Weak Prices Ding Silver Wheaton's Earnings?

But Kodak declared bankruptcy last month, and a judge permitted the company to terminate the contract earlier this week.

FORBES: Kodak To Give Up Naming Rights To Oscars Venue

Clauses to this effect were subsequently put into contracts that Skins signed with athletes and teams, and the firm vowed that if any of its sportspeople or teams were caught "systematically cheating" - on a regular and calculating basis - then the firm would "terminate the contract, and terminate it very loudly".

BBC: Business