Contract Essay Example | Topics and Well Written Essays - 500 words

Contract - Essay Example Remedies for breach of contract will be the mode of enforcing the contract and will be implemented through mutual agreement of the parties, and where agreement cannot be reached, through litigation processes. Specific performance will be the principle remedy for breach of the contract unless it is terminated by a legally recognized cause (Bose 75). Breach of the contract without substantial financial implication to the offended party will generate liquidated damages with an equivalent value to the benefits that the offended party would have derived for the remaining period for which the contract would run (Miller and Jentz 296). The client shall pay a sum of $ 7000 per month. The amount shall be paid through the service’s provider’s bank account and shall be made on the fifth day of the following month of service, or the first working day if the day after the fifth day of the month is a public holiday or a weekend. Modification of terms to the contract shall be on mutual agreement between the client and the service provider and shall be supported by consideration. Such modifications shall also be in writing (Mann and Roberts