Contract
Posted: Sat, 08 Mar 2008 3:41 pm
I'm currently a tenant of a stall in a Food Cout establishment in Singapore. I want to stop because it's not profitable and I keep losing money every month. When I talked to the Food Court management that I want to stop, they were furious and threaten to sue me because within the contract it is stated that if a tenant decides to stop within the 3yr, the tenant will have to pay the remaining rent until the end of 3yr contract.
When I signed the contract I didn't read this term and I know it's my fault to be so careless in signing it. If I had known such term I wouldn't sign it.
Can you guys help me as I'm in a very difficult situation now? I cannot continue running the stall as I keep losing money. In addition, recently our main cook had resigned.
If you have heard and had similar experience please share with me. Do you think they'll really sue me of the remaining rent? that would amount to around $200k, which for sure I don't have that much money
Thanks for reading and any reply.
When I signed the contract I didn't read this term and I know it's my fault to be so careless in signing it. If I had known such term I wouldn't sign it.
Can you guys help me as I'm in a very difficult situation now? I cannot continue running the stall as I keep losing money. In addition, recently our main cook had resigned.
If you have heard and had similar experience please share with me. Do you think they'll really sue me of the remaining rent? that would amount to around $200k, which for sure I don't have that much money
Thanks for reading and any reply.