Contracts
Breach of Contract
Commercial Lease
Confidential
Settlement – $20,000Facts
In 1995, the plaintiff, an equipment-leasing company, entered into a lease agreement with a NASDAQ-listed biotech company, which master lease covered some 25 leases. In 1998, a conflict arose regarding the plaintiff's method of posting payments. The plaintiff claimed its method of posting allowed it to charge late fees for virtually all of the lease payments made by the defendant. The plaintiff claimed the defendant breach the contract.
Settlement Discussions
The plaintiff made a settlement demand for $70,000. The defendant made an offer of $20,000.
Damages
$140,000 for the final lease payoff.
Other Information
The settlement was reached approximately _____ years and _____ months after the case was filed.
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