I deal with contracts every day .. I know the laws very well .. I also write them
contracts are written for a reason .. to protect both parties .. default on the contract can very well end you up in court if the debtor chooses to proceed with the default collection action .. as I said before - it depends on how the contracts are written and agreed upon by both parties from the start - writing contracts that conflict with state and local laws are simply not done by real companies
the companies in the bk court as debtor will most likely try to clam the full amount of the defaulted contact for tax and business reasons
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