Contractual obligations are completely different. There are very few ways you can cancel a contract, most have to do with one party presenting blatant lies that change the actual worth of a business investment. Its hard to get a Court to rule for canceling a contract, and none will bail you out simply because you made a stupid deal. Likewise, the courts will not allow you to cancel a contract for an external reason that doesn't effect the worth of the investment, such as the political views of the contractor.
Thanks and Gig 'Em,