👉 Resignment is a legal term that describes an agreement or arrangement where one party to a contract agrees not to perform their part of the agreement. In other words, a person who has agreed to give up some part of their rights, duties, or benefits in exchange for another person's promise to fulfill their part of the agreement. Resignation is typically used when a contract requires that an individual or entity give up certain rights or obligations in order to continue or continue with the terms of the contract.
