Legal Question in Business Law in Pennsylvania

Contract payment terms

I have a contract wherein the other party agrees to pay my organization x amount of money. It stipulates that payment is due upon signing. Please let me know how much time the other party has to make payment once they have signed(immediately or 30 days, etc.)

Thanks.


Asked on 12/04/04, 5:38 pm

3 Answers from Attorneys
Stephen Loeb Law Office of Stephen R. Loeb

Re: Contract payment terms

If the contract says its due on signing, the money is due at the time the contract is executed.

Should you like to discuss this or any other legal matter, you can call my office to schedule an appointment for a consultation or in the alternative, I can be reached for on-phone low-cost legal consultation at 1-800-275-5336 x0233699.

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Answered on 12/06/04, 9:33 am
Walter LeVine Walter D. LeVine, Esq.

Re: Contract payment terms

Payment on signing appears to mean immediately upon signing, not some deferred date. Are there any other provisions covering this, such as a provision for late payment if the payment is not received within x numer of days, or default provisions if payment is not made? If you would like me to review the contract and advise you, please FAX a copy to 973-377-8167.

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Answered on 12/06/04, 11:27 am
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: Contract payment terms

This is based solely upon the contract, if the terms are not present in the contract, you would need to go to the intentions of the parties...I recommend you consult an attorney with specific facts....I am available at 412.731.0865 or www.AlleghenyAttorneys.com

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Answered on 12/06/04, 12:09 pm


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