Common use of Rescission of Contract Clause in Contracts

Rescission of Contract. 1. After the agreement between the two parties, the contract can be terminated. 2. During the validity period of the contract, if one of the following circumstances occurs, the contract is automatically cancelled. (1) Force majeure occurs, making this contract impossible to perform (2) The land use right within the occupied area of the property is recovered in advance (3) The property was legally expropriated for social public interest (4) The property was damaged or identified as a dangerous property (5) Party B has privately remodeled the leased property without the written consent of Party A. (6) Party B is not personally disguised without the written consent of Party A. (7) Party B pledges the property to protect Party A’s rights and interests. If the contract is terminated due to the above (1-4 items), the rent shall be calculated according to the actual use time, and the calculation shall be based on the number of days in which the whole month is insufficient, and the partial refund shall be made to the part that is refunded or less; (7-7 items) Overpaid part of the rent, Party A does not return. 3. Party A and Party B agree that in any of the following circumstances, one party may notify the other party in writing to terminate the contract. The party that violates the contract shall pay the breach of contract to the other party at the same time as the other party’s monthly rent; if the liquidated damages are insufficient to compensate the party, the difference between the loss and the liquidated damage shall be compensated. (1) Party A fails to deliver the property on time, and has not delivered it within 10 days after the urging by Party B; (2) The property delivered by Party A does not comply with the provisions of this contract, resulting in the inability to achieve the purpose of the lease, or the property paid by Party A is defective, endangering the safety of Party B.