This Cancellation of Agreement letter is generally used as the initial tactic to get out of an agreement. A buyer's right to cancel an agreement is determined by the contract itself and the law in general. Make sure that you are legally entitled to cancel the contract before sending this notice.
These kinds of letters tend to be tactical approaches to resolve a business situation. As a rule, no solution is satisfactory to both parties. You must try to seek out a solution that is the least painful and most acceptable to the parties.
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