option to terminate

option to terminate
A provision in a lease giving the right or privilege to both parties, or one of them, to terminate the lease either at will or on the happening of some contingency, such as the destruction of or injury to the premises, or the decision of the landlord to sell, alter, or improve the property. Anno: 27 ALR 845, 35 ALR 519, s.116 ALR 931.

Ballentine's law dictionary. . 1998.

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