Legal Question in Consumer Law in New Jersey

Breaking a contract

I signed a contract for heating oil at the price of 279.9 in july. The price of oil has dropped significantly. Petro is not willing to negotiate. I have been a customer since 1984. They have a fee of 299 dollars to get out of the contract, How likely are they to sue me for the 299 dollars if I get my oil elsewhere.


Asked on 10/12/06, 11:21 pm

1 Answer from Attorneys
Adam L. Rothenberg Levinson Axelrod, P.C.

Re: Breaking a contract

I cannot comment on the likelihood of them suing you, since that is really a decision of economics and public relations. They may be interested in making sure that as a matter of policy that they make a statement as well.

It would seem that the obligation exists. You made the contract in order to protect yourself, if oil was $6.00 a gallon, you would not let them off just because things changed; you would hold them to it! When the tide turns the other way, it is hard to expect that they will readily accept you to bail without reprecussions. You take a risk.

Hope this helps in some way. Best wishes.

Read more
Answered on 10/13/06, 12:46 pm


Related Questions & Answers

More Consumer Law questions and answers in New Jersey