When is a multi-party contract deemed terminated or settled between the parties?

The contract is deemed terminated or settled between the parties if they agree on minutes of a meeting that include the termination of the contractual relationship after the completion of a specific phase of the project, accompanied by a partial financial settlement as a gesture of good faith. This holds true even if an explicit final discharge is not subsequently signed, especially if one of the parties thereafter directly contracted with the client to complete the project.