Hello,
New York state is the presiding jurisdiction for my agreement.
A potential partner is asking that I strike "breach" in favor of "material breach." He claims he doesn't want to get dinged for a minor breach, like failure to notify or missing a deadline by a day. I've never received this request and I've drafted over 50 agreements for my company.
Is there a danger in striking "breach" in favor of "material breach?" I fear that by doing so, in the event of any breach (material or immaterial), it will be subject to the whim of the presiding court.
New York state is the presiding jurisdiction for my agreement.
A potential partner is asking that I strike "breach" in favor of "material breach." He claims he doesn't want to get dinged for a minor breach, like failure to notify or missing a deadline by a day. I've never received this request and I've drafted over 50 agreements for my company.
Is there a danger in striking "breach" in favor of "material breach?" I fear that by doing so, in the event of any breach (material or immaterial), it will be subject to the whim of the presiding court.