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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.
[26] [237] Plaintiffs are seeking damages for personal injury or wrongful death resulting from accidents in the defective Toyota vehicles (in other words, product liability), loss of resale value, or a drop in the value of shares held by Toyota shareholders. [26] Toyota has retained the law firm of Alston & Bird to defend most of these cases. [238]
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 ...
Early Termination Fees. If unexpected circumstances arise, you might have to end your lease before the scheduled expiration. Many dealerships will charge you an additional fee if this happens ...
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.
The Consumer Financial Protection Bureau on Monday ordered Toyota's credit arm to pay $60 million for tricking customers into unnecessary products that it then made unreasonably hard to cancel.
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.
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 ...