IGN:
@CrazySwagMaster1
Users Involved in this Contract:
@MadMonster_
@CrazySwagMaster1
General Purpose of Contract:
600k loan to be paid back as 800k in 8 weekly payments.
I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3:
The other user(s) involved with this contract must agree to the following terms:
- create a two trade signs located in legacy: -3567 78 -4586
- use one to sell 8 bones for 100k each with one trade sign (for repayment of loan)
- use the other to sell dirt at 1k each (for each day a payment is late)
- not add bones to trade sign/render trade sign inaccessible to @MadMonster_
- Pay @MadMonster_ 600k ecd upon the approval of this contract.
I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.:
- Pay @CrazySwagMaster1 100k per week for 8 consecutive weeks. These payments will be required before midnight each Sunday (GMT -6 or MST). (eg, pick any day of the week). The first 100k payment is due the sunday of September 27th
- If a payment is late, a 1k/day late fee will be required in the late fee sign until that weeks 100k is paid off. The 1k late fee will be added at midnight each day (GMT -6 or MST) until either:
- All due or overdue payments have been made
- 60k in late fees have been occured. Which ever comes first.
- A breach of contract has occured when @MadMonster_ has missed a 100k payment, and another 100k payment is due (100k payment being 1 week late).
- If the contract is breached resulting in a ban, @MadMonster_ will have to continue paying late fees daily, up to $60,000ecd. (60 days)
I do.
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CrazySwagMaster1 Mother F****** SorceressBuilder ⛰️ Ex-EcoLeader ⚜️⚜️⚜️ Premium Upgrade
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MadMonster_ Retired GameAdminPresident ⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade
IGN:
@MadMonster_
I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract:
Yes -
By saying you will add 1k/day as a late-fee leaves the payback open ended and therefore unenforceable. You need to cap the amount of time late fees can accrue (i.e. up to two weeks/a month.)
@CrazySwagMaster1 please fix this and @MadMonster_ please re-agree once the edit has been made.-
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CrazySwagMaster1 Mother F****** SorceressBuilder ⛰️ Ex-EcoLeader ⚜️⚜️⚜️ Premium Upgrade
@sick24 prior to you saying this I had this bit in here.
- A breach of contract has occured when @MadMonster_ has missed a 100k payment, and another 100k payment is due (100k payment being 1 week late).
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That's actually not what I was referring to. You say that "1k payments will be added on each midnight until the loan is paid back." This makes it uncappable which is an issue. You need to, for example, change it to "1k payments will be added each midnight until the loan is paid back which will stop after 2 weeks of continual payments." so that the payback does have a limit.
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MadMonster_ Retired GameAdminPresident ⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade
As the contract has been edited I'll re-agree
IGN:
@MadMonster_
I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract:
Yes
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