Legal basis: People's Republic of China (PRC) Contract Law.
Article 45 The parties may stipulate that the validity of a contract is subject to conditions. A contract with effective conditions shall take effect when the conditions are met. A contract with termination conditions is invalid when the conditions are met. If the parties improperly prevent the achievement of conditions for their own interests, the conditions are deemed to have been achieved; Those who improperly contribute to conditional achievement are regarded as conditional failure.
Article 93 A contract may be terminated if the parties reach an agreement through consultation. The parties may stipulate the conditions for one party to terminate the contract. When the conditions for contract termination are met, the creditor may terminate the contract.
Article 94 The parties may terminate the contract under any of the following circumstances: (1) The purpose of the contract cannot be achieved due to force majeure; (two) before the expiration of the performance period, one party clearly stated or indicated by its own behavior that it would not perform the main debt; (three) one party delays the performance of the main debt and fails to perform it within a reasonable period after being urged; (4) One of the parties delays the performance of debts or commits other breach of contract, which makes it impossible to achieve the purpose of the contract; (5) Other circumstances stipulated by law.