Final answer:
The agreement between the parties is now null and void.
Step-by-step explanation:
The subject of this question is Law. The question asks for a term that describes the status of an agreement when one party has failed to carry out their promises. The term that best fits this description is null and void which means that the agreement is considered invalid and has no legal effect. The other options, 'revoked', 'terminated', and 'suspended' may also be used to describe the end of an agreement, but they do not carry the same meaning as 'null and void'.