Can I exit a contract with a company after serving notice period?

Sir, I signed a franchisee agreement and lease contract with an Oil company, valid for 25 years. The jurisdiction is put as Bombay.

1. Can i withdraw from these contracts by giiving 3 months notice, prior to the stipulated period. Since the business is not profitable from 10 years,and am running in a loss. All the investments and the land is made by me, and licenses from the concerned authorities also in my name.A9

If i make a move do I need to move my case limited to Bombay courts?

What is the best option for me to release my property and investment from this unwanted business.

With regards

Rajan Babu

Answers (1)

372 votes
1. Depending on what the termination clause in the contract says, you can terminate the same after giving notice of however many months is required. In case there is an indemnification clause for termination, you will be made subject to it and will be liable to pay the other party damages for termination of contract. 2. If the jurisdiction has been clearly laid down as Bombay, you will required to file a case there itself. The best option for you to release your property from unwanted business will be to terminate the contract legally, after complying with all the terms and conditions as agreed by you in the original contract, to discourage any future trouble.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Corporate Lawyers

Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
34 years Experience
Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
21 years Experience
Advocate Bala Janaki
330 Thambuchetty Street, Chennai
36 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
13 years Experience
Report abuse?

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Corporate Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles