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Termination fees are common to service industries such as cellular telephone service, subscription television, and so on, where they are often known as early termination fees. For instance, a customer who purchases cellular phone service might sign a two-year contract, which might stipulate a $ 350 fee if the customer breaks the contract.
A lease buyout involves paying off the remainder of your monthly payments plus any early termination fees in cash. Many people choose to buy out their leases at the end of their term. Then, you ...
This money can cover extensive damage to the car and other events that cost the dealership money. ... an excess mileage fee, wear-and-tear fees, or an early termination fee. Make sure these fees ...
A breakup fee (sometimes called a termination fee) is a penalty set in takeover agreements, to be paid if the target backs out of a deal (usually because it has decided instead to accept a more attractive offer). The breakup fee is ostensibly to compensate the original acquirer for the cost of the time and resources expended in negotiating the ...
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3] This is most applicable where the damages are intangible.
If you reject our last written proposal to resolve your claim before an arbitrator was appointed (the “Proposal”), and the arbitrator awards you more than the amount of our Proposal, we will: (i) pay you the greater of the award or $1,000; (ii) pay twice your reasonable attorney’s fees, if any; and (iii) reimburse any expenses (including ...
In finance, law, and insurance, rescission is the termination of a contract from the beginning (as if it never existed), rendering it void ab initio. In 2009, one judge ruled that borrowers who refinanced into an adjustable-rate mortgage could force a bank to rescind mortgage loans if it acted similarly inappropriately. [ 9 ]
When Toyota introduced the car in May, it charged a one-time application fee of 770,000 yen ($5,175) on top of a 107,800 yen monthly lease for the first four years of a 10-year contract.