Which term best describes a contract that has expired?

The best term to describe a contract that has expired is "Expiration." When a contract reaches its predefined end date or the time frame outlined in its terms without being renewed or extended, it is said to have expired. This denotes that the obligations and rights defined in the contract are no longer in effect, and both parties are released from their commitments as per the terms of that agreement.

While other terms may seem related, they reflect different concepts. For example, termination refers to ending a contract before its expiration under specific circumstances, such as breach or mutual consent. Withdrawal generally means that a party removes themselves from a contractual agreement, often prior to execution. Rescission involves voiding a contract, usually due to misrepresentation or coercion, rather than simply allowing it to reach its natural end point. Therefore, "Expiration" accurately captures the state of a contract that has simply run its course.