Legal Question in Business Law in Illinois
Early Termination of a 12 month contract
My company has a contract that has recently auto-renewed for another 12 months. The contract states if they didn't want to renew for another 12 months, to notify my company 60 days prior to the end of the first year. Otherwise it renews for an additional 12 months. We are now 2 months after the new period has started (which is 4 months after the termination point). No breach has occured but they just want to try a different vendor. They have offered to remain with my service for a brief period and then discontinue our relationship. I don't think that is sufficient and believe I am owed for the remainder of the contract term. Am I right?
5 Answers from Attorneys
Re: Early Termination of a 12 month contract
You may be right, but do you want to enforce the contract by the expense and time of a lawsuit? If you did that, would you not then also end any relationship you had with them? Are they willing to buy out the contract? This answer is not legal advice because you are not as yet my client.
Re: Early Termination of a 12 month contract
You may be right, but do you want to enforce the contract by the expense and time of a lawsuit? If you did that, would you not then also end any relationship you had with them? Are they willing to buy out the contract? This answer is not legal advice because you are not as yet my client.
Re: Early Termination of a 12 month contract
You may be right, but do you want to enforce the contract by the expense and time of a lawsuit? If you did that, would you not then also end any relationship you had with them? Are they willing to buy out the contract? This answer is not legal advice because you are not as yet my client.
Re: Early Termination of a 12 month contract
Based on the information provided, you are right
Re: Early Termination of a 12 month contract
If the customer breaches the contract (and you don't), you are entitled to damages. As a plaintiff, you would have to prove your damages. If you would have had costs associated with your future performance of the contract, your damages would probably not be what you were owed for the remainder of the contract but only the profit you would have made.
Obviously, someone would need to look at all of the facts (and the exact wording of the contract) to give you an answer on your specific situation.
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