Need to end contractual agreement with a factoring company due to their refusal to factor outstanding "purchase orders" that we have submitted.
Question Details: The factoring company has 5% preferred stock in our C Corporation. They have broken the agreement many times and we have numerous valid grievances. We want to end the ageement.
Hello. I am a Maryland barred attorney. To determine how you can legally sever ties, I strongly encourage you to have an attorney review the contract at issue. In particular, the specific language of your contract describing events of breach and remedies will need to be reviewed. There is unfortunately no generic answer as to how to end an agreement as it varies by the language of your specific contract.
In some instances, you may need to file suit to resolve your grievances. In this state, Corporations may not represent themselves in lawsuits (except for certain small claims).
