What Is a Cancellation Clause?

The condition clause refers to the main clause in the charter party. Anglo-American law considers such clauses to be important to the commercial purpose of the contract, and once such clauses are not listed in the contract, or are cancelled or not performed in the contract, the contract will produce the opposite of the commercial purposes agreed by the parties the result of. According to the laws and jurisprudence of various countries, a party to the contract violates such terms, and the injured party has the right to cancel the contract and claim damages. ^[1]