If all parties involved agree to the dissolution of a contract, you may be able to cancel it. In cancelling the contract, you must follow all rules and guidelines established in the original document. If all parties involved in a contract agree to its cancellation, you can create a Termination Agreement, bringing the contract to an end. All parties to the original contract must sign the Termination Agreement to end the contract. Certain types of contracts have a “cooling off” period that allows parties to reconsider the agreement after signing it. You might hear people refer to this as a trial period. During this time, you can cancel the contract without giving a reason. For example, if you sign a cell phone contract, you may have 15 days to change your mind after the contract begins depending on your province and provider. Typically, you must reach out to the company and provide written notice within the trial period. Additionally, if the other party involved in the contract doesn’t uphold their end of the contract, you may be able to terminate the contract. This includes the other party breaching the contract’s terms, like not upholding their part of a service or your purchased item not working as advertised. While your ability to cancel a contract depends on the contract and the breach, there’s a good chance that if the purpose of the contract is not fulfilled, you’re not obligated to uphold your end.