Legal Question in Business Law in New York

Settling out of a Contract

I have recently opted out of a contract for a publishing company, and there is still work that I've done for this company that I'm to be paid for. The publisher states he will pay me for this work. However, he wants a release signed first, before he'll send this payment. I'm afraid that once I sign any sort of release, that it will be difficult to collect on the money that's owed to me. I feel that I shouldn't sign until this payment has been sent. I followed the contract, and gave the notice of resignation that it required. Now I'm just thinking that if I don't sign this release, that I won't get paid at all. What action should I, or can I take?


Asked on 4/12/06, 8:16 am

2 Answers from Attorneys
Norman Nadel Norman Nadel, Esq.

Re: Settling out of a Contract

Two solutions:

1. The release can carve out an exception, namely, the amount to be paid to you and the terms of payment.

2. Have a third party hold the Release in escrow until payment to you is complete.

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Answered on 4/12/06, 8:35 am
Carlos Gonzalez Gonzalez Legal Associates PLLC

Re: Settling out of a Contract

I'd be more than happy to help you with this matter, the best course of action to take might be to simply either set a time where you can physically meet and do an even exchange where there is a transferance of both money and release simultaneously, or have someone work with you and hold the release on escrow... feel free to contact me for help on this, or any other, matter.

Carlos Gonzalez, Esq.

phone: 7185419077

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Answered on 4/12/06, 11:23 am


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