Blue Springs, MO asked in Contracts for Missouri

Q: I have a contract for remodeling kitchen and bathrooms and I have paid 26% down, $11,000 so the contractor could

purchase material. I am told the contractor has purchased the material. The contract says if I cancel I pay 20% of the contract amount or the contractor's costs whichever is higher. If I cancel can I just forfeit the $11,000 but will I be entitled to obtain the material? Is the material in effect mine?

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1 Lawyer Answer
Ronald J. Eisenberg
Ronald J. Eisenberg
  • Chesterfield, MO
  • Licensed in Missouri

A: That's a large sum. For an attorney to provide a meaningful answer, the attorney would need to review your contract. If it makes financial sense to you, pay an attorney to review the contract. In addition to the terms you stated, the contract might also have a one-sided attorney's fee provision or an additional liquidated damages clause.

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