【正确答案】Termination of contract refers to such a situation where the rights and obligations arising out of a contract come to an end due to various statutory circumstances prescribed by the law or agreed upon by the parties to the contract.

【正确答案】In accordance with Articles 91, 93 and 94 of the Contract Law, the major differences between dissolution of contract and termination of contract rest with: (i) Termination of contract is only relevant to the state of a contract, while dissolution of contract is relevant to a legal action taken by a party to the contract under the conditions as prescribed by the law or agreed by the parties; (ii) Termination of contract is a much wider concept than dissolution of contract. Termination of contract covers the circumstances of dissolution of contract; (iii) Termination of contract does not require a party to make a notice to the other party; while dissolution of contract requires the party that intends to dissolve a contract to make a notice to the other party. Without such a notice there will be no dissolution of contract.