A loan agreement must clearly set out the repayment terms — including the amount, interest…

Do It the Right Way
You can’t just walk away from a contract — valid cancellation requires that you follow the correct legal process. Usually, this means:
- Giving proper written notice;
- Citing the reason for cancellation (e.g., breach, expiry, or a clause allowing termination);
- Following the terms of the agreement.
Failing to cancel properly could result in legal consequences, including a claim against you for breach. Always check your contract before taking action.
