Looking for advice on this situation. Contract Has $50K Liquidated Damages for Early Termination - Enforceable? Any guidance would be greatly appreciated.
Details: I'm in a situation where I need to understand my legal options. Has anyone dealt with something similar?
Always get contract modifications in writing. Verbal modifications are theoretically enforceable in some situations but nearly impossible to prove. A quick email confirmation costs nothing and saves everything.
The enforceability of this clause depends heavily on your state's law and the specific language used. I'd recommend having an attorney review the exact wording before taking action.
The enforceability of this clause depends heavily on your state's law and the specific language used. I'd recommend having an attorney review the exact wording before taking action.
The UCC governs sale of goods contracts; common law governs services. The rules are different. Make sure you're looking at the right framework for your situation.
The UCC governs sale of goods contracts; common law governs services. The rules are different. Make sure you're looking at the right framework for your situation.
Good discussion. Tagging this for the resource library.
Update: Thanks everyone for the guidance. I consulted with an attorney and we're moving forward. The advice here helped me understand what questions to ask and what to expect. Will update when there's a resolution.
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