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*'''Nice''': To [[unwind]] a [[transaction]] by consent before its [[scheduled maturity]], subject to mutually agreed [[breakage costs]]; | *'''Nice''': To [[unwind]] a [[transaction]] by consent before its [[scheduled maturity]], subject to mutually agreed [[breakage costs]]; | ||
*'''Nasty''': To unilaterally declare a contract at an end as a result of a [[fundamental breach]] by the other person, with the mind to sue the naughty fellow for [[damages]]. Spoddy but important point: this is to be distinguished from terminating a transaction under the terms of the contract as a result of an [[event of default]], as one might do with an {{isdama}}. | *'''Nasty''': To unilaterally declare a contract at an end as a result of a [[fundamental breach]] by the other person, with the mind to sue the naughty fellow for [[damages]]. Spoddy but important point: this is to be distinguished from terminating a transaction under the terms of the contract as a result of an [[event of default]], as one might do with an {{isdama}}. | ||
{{event of default vs fundamental breach}} | |||