Contract Cancellations

Forbes  Feb 8  Comment 
If you cancel a contract and no money changes hands, do you have taxable income? It's counterintuitive, but you may. Most deposits don't count as income. But if you are holding a deposit from a buyer and the buyer forfeits it, that deposit is...
FX Street  Jul 20  Comment 
Existing home sales fell 0.8 percent in June to a 4.77 million-unit pace. Contract cancelations... For more information, read our latest forex news and reports.
MedPage Today  May 3  Comment 
WASHINGTON (MedPage Today) -- The Senate Finance Committee has announced it is investigating Medtronic after the device maker cancelled contracts meant to allow hospitals to join forces to purchase medical devices at a cheaper price.


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This is the percentage of contracts (new orders) that were canceled during the given period.

Because of the high costs and intensive labor associated with home building, many home building companies only begin construction on new homes after the homebuyer has signed a contract. However, homebuyers can still cancel the contract, leaving the company with excess inventory.

In particular, in times such as the 2008 Financial Crisis when housing prices are volatile and consumer confidence is down, contract cancellations will increase, compounding home builders woes in a down housing market.

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