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Is it effective to terminate the contract by SMS?
Legal basis: Civil Code of People's Republic of China (PRC).
Article 564 The time limit for exercising the right of revocation shall be prescribed by law or agreed by the parties. If the parties fail to exercise their rights at the expiration of the time limit, the rights shall be extinguished. If the law does not stipulate or the parties have not agreed on the time limit for exercising the right of revocation, and the holder of the right of revocation knows or should know the reason for revocation and fails to exercise it within one year, or fails to exercise it within a reasonable period after being urged by the other party, the right shall be extinguished.
Article 585 The parties may agree that one party shall pay a certain amount of liquidated damages to the other party for breach of contract, or may agree on the calculation method of the amount of compensation for losses caused by breach of contract. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase the liquidated damages at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties. If the parties concerned pay liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.
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