Which term describes a legal document that formally ends a contract?

The term "Release form" refers to a legal document that formally ends a contract by releasing one or more parties from their obligations under that contract. This document is significant in contract law as it delineates the intent to free the involved parties from any further responsibilities and claims associated with the contract.

A release form serves to protect all parties involved, ensuring that they cannot be held liable for any future claims regarding the contract once it is formally terminated. Typically, such a form will require the signature of all parties to validate the termination of their agreement, thus clearly communicating the cessation of contractual obligations.

In comparison, a revocation notice generally indicates a withdrawal of an offer rather than the complete termination of an existing contract. A termination agreement usually encompasses the terms under which a contract is ended but does not specifically denote the release of obligations as clearly as a release form does. A cancellation clause is a stipulation within a contract that allows for certain conditions under which the contract may be canceled, but it does not act as a standalone document to terminate the contract itself.

Overall, the release form is the most precise term for a legal document that concludes a contract and liberates the parties involved from their contractual duties.