Lil Honey Posted March 16, 2006 Share Posted March 16, 2006 I have a paper on my desk from a national company (referred to as "Them/They") that is setting up an EFT Payment system for its vendors. (The company I work is one of their vendors.) One of the paragraphs reads, "In the event that payment has not been received by Payee [my company], Payee shall notify 'Them' immediately in writing and 'They' will have a reasonable period in which to make the payment, and until the expiration of that period, Payee agrees that it will not have or pursue any rights or remedies against 'Them' . . . ." Now, tell me, please . . . exactly WHEN does a "reasonable period" expire? ? ? ? Link to post Share on other sites
whats wrong with me Posted March 16, 2006 Share Posted March 16, 2006 thirty days in most states!!! ha! ha! is'nt that a crock Link to post Share on other sites
Lil Honey Posted March 17, 2006 Share Posted March 17, 2006 Hmmm . . . I was under the impression that it was double-speak. I really didn't know that there was a defining limit to "reasonable time." Thanks. Link to post Share on other sites
whats wrong with me Posted March 17, 2006 Share Posted March 17, 2006 it really depends on the type of buisiness and what state your in. in realestate in Missouri a reasonable time is 10 ten days. Law in Alabama a reasonable time is 14 to 30 days. I dont know how companies can get away with this but they do.... also....if a house in AL got a notice of a property lein the owner has 30 days to contest it but if you feel your houses taxes have been appraised wrong your "reasonable time" is 14 days. I came acroos alot of that info when researching legal stuff, thats one reason average people are getting screwed by the government. Oh no...I gotta quit before I get started!!!!!!!!!!! Link to post Share on other sites
Lil Honey Posted March 17, 2006 Share Posted March 17, 2006 I was wondering that very thing: If the time limit was different for different situations. LOL I can relate to your don't-get-me-started statement. It's a good thing it's Friday. Link to post Share on other sites
whats wrong with me Posted March 17, 2006 Share Posted March 17, 2006 I can get on a soapbox in a hurry....I carry it with me! seriously though if you check the type of business your in and cross it with your state you will probley find what "reasonable time" is! Link to post Share on other sites
Lil Honey Posted March 17, 2006 Share Posted March 17, 2006 Okay, thanks. I'll do that - when I'll REALLY bored. Link to post Share on other sites
Guest Posted April 17, 2006 Share Posted April 17, 2006 Oh. Thanks. AS always, dont surprise me Link to post Share on other sites
Curmudgeon Posted April 19, 2006 Share Posted April 19, 2006 Depending upon your state statutes and since this is a contractual relationship, "reasonable time" could be whatever they construe it to be which they would doubtless use to their advantage. That's an agreement I wouldn't sign until they defined "reasonable time" in terms of finite days, weeks or months. One of the things I do for a living is write law and I always make sure it's clear, unambiguous and not subject to interpretation. Weazle or waffle language just doesn't cut it. Link to post Share on other sites
RecordProducer Posted April 19, 2006 Share Posted April 19, 2006 Now, tell me, please . . . exactly WHEN does a "reasonable period" expire? ? ? ?When vague descriptions are being used in contracts it means that these terms are variable and depend on the circumstances. E.g. a contract for an entertainment gig can state "Performers will give their best and be dressed appropriately." Now what is "their best" or "appropriate outfit"? The truth is - if you come in jeans and T-shirt and get so drunk that you can't perform they can sue you, but they can't limit you in your drinking or tell you how to dress as you can come drunk from home and still look inappropriately. Timing in payments may depend on shipment of merchandise. Delays are sometimes justified, sometimes can be taken advantage of - my husband is dealing right now with a guy from Korea who refuses to pay him a lot of money, because of a huge delay, but is keeping the goods! Link to post Share on other sites
zarathustra Posted April 20, 2006 Share Posted April 20, 2006 I have a paper on my desk from a national company (referred to as "Them/They") that is setting up an EFT Payment system for its vendors. (The company I work is one of their vendors.) One of the paragraphs reads, "In the event that payment has not been received by Payee [my company], Payee shall notify 'Them' immediately in writing and 'They' will have a reasonable period in which to make the payment, and until the expiration of that period, Payee agrees that it will not have or pursue any rights or remedies against 'Them' . . . ." Now, tell me, please . . . exactly WHEN does a "reasonable period" expire? ? ? ? Why not Them define 'reasonable period' as They made references to an expiration of such a period? Link to post Share on other sites
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