Contract Question

Not sure if this is a loophole

[roxyyo]

"Unless otherwise terminated as provided herein, this ‘Agreement’ shall continue in force until the services provided for herein have been fully and completely performed. This ‘Agreement’ shall terminate automatically on the occurrence of:

a. Bankruptcy or insolvency of either Party
b. Sale of the business of either Party
c. Assignment of this ‘Agreement’ by either Party without the express written consent of the other Party
d. Default of either Party in performance of this ‘Agreement’ or material breach of provisions herein
e. Failure of ‘The Company’ to pay ‘Consultant’ all or any part of the compensation set forth in the ‘Quotation’ within 30 days from the due date."

Does this mean that if someone sells their business or the agreement otherwise is terminated, that the company would not have to pay the consultant?

[paladin]

I can tell you what I do when I see language like that....ask a lawyer

Seriously, if the money from that contract is important to you, it is worth the investment in having a lawyer review it. Think of it like car insurance - you hate paying for it. But you'd kick yourself in the @ss if you get in an accident when you did not get the insurance.

[Corey Bryant]

I agree - ask an attorney. Go over to keen if you don't want to shell out the 'insurance'.

They are basically covering themselves if something unforeseen down the raod and they sell the company. Selling a company is hard enough and then you have these little caveats like - well we have this consultant that you have to pay also, etc. What happens if the new company also has a consultant?

I would be more worried about E if anything myself

-Corey