Contracts can be terminated in various ways: 

1. By Performance: both parties fulfill their obligations as per the terms of the contract.

2. By Agreement: Both parties agree to terminate the contract.

3. By Breach: One party fails to meet their obligations, allowing the other party to terminate the contract due to the breach.

4. By Frustration: If unforeseen events make it impossible to fulfill the contract's purpose.

5.By Operation of Law:  Some contracts terminate automatically due to legal reasons or changes in circumstances, such as bankruptcy or illegality of the contract.

Each termination method may have different legal implications depending on the contract terms and governing laws.