Legal Question in Business Law in New York
Breach of contract
Our business signed a licensing agreement through a
fax and decided to cancel the agreement 24 hours later
also by fax. Is there a 'cooling off' clause in New York
State law that allows us to do this within a resonable
time frame.
1 Answer from Attorneys
Re: Breach of contract
New York State has a cooling off period for consumers (i.e., not businesses) who are solicited, but with very narrow application.
In order to know the impact of your cancelation, it is necessary to know if there were liquidated damage provisions in the agreement, where the applicable (law) jurisdiction was set by the terms of the agreement, whether the other side was damaged by your cancelation, who drafted the contract, whether you obtained a benefit (i.e., were enriched)from the agreement and whether you are subject to personal jurisdiction in the place where the other side is located.
If you can provide the above information (a copy of the agreement would help) by email to me at [email protected], I will try to give you a more helpful answer.
Related Questions & Answers
-
Define Customer for non-compete clause I was laid off in January. I had a... Asked 7/31/03, 10:42 am in United States New York Business Law
-
NY Carpenter fraudulently cashes check In Oct. 02' our company (located in PA)... Asked 7/25/03, 9:03 am in United States New York Business Law
-
Setting up US Office of international non-profit I am looking into what it would... Asked 7/23/03, 9:02 pm in United States New York Business Law