Bad Lease Contract?

[Island7]

What is the name of your state? Washington.
I have a leased piece of very expensive equipment for my business. My current clientele is just barely enough to support my business withOUT the piece of equipment but not with. The lease company will allow me to have the 5-year lease assumed, but I have only been able to find cash buyers for the equipment. The lease company will only allow early buy-out if I pay the full 5 years worth of interest, which I could never come up with. Please forgive my contract/legal ignorance, but my question is: Is there a possibility that I could somehow, with the help of a lawyer, get the lease company to accept early cash buy-out without paying the gigantic 5 year interest payment? Has this ever been done? Thanks very much in advance!

 

[shortbus]

Why would they? They make all their money on the interest payment. They have you on contract. What's their motivation to let you off the hook?

 

[Island7]

Wasn't there some famous lawyer who said, "Contracts are made to be broken"? That is what my question is: Is it possible that a lawyer could find something unfair in my contract that would cause a judge to say, "this contract is no-good, let the person pay what they owe for the equipment plus the interest for the time they've had it". Has this ever been done before, or are the lease companies just too big and powerful? I completely understand the lease company has no inherent motivation, I want to know if I can produce legal motivation? Thank you very much in advance to anyone with anything to say about this. I need all the help I can get.

 

[HomeGuru]

Wasn't there some famous lawyer who said, "Contracts are made to be broken"?

**A: yes, so locate that lawyer and hire him.

 

[Island7]

I'm sorry, I was under the impression that this forum was a way for lay-people to post their thoughts and find out if they in fact have a reasonable cause to go to a lawyer. I'm not knocking sarcasm, as long as it accompanies an actual thoughtful response. Thanks, anyway.

 

[shortbus]

There are certain circumstances in which a court will void a contract. Usually in a case of fraud or misrepresentation. But courts generally void contracts only as a last resort, and are especially trained to watch out for parties who are using the legal system to get out of a deal they regret.