How long are contracts valid for

Question

I live in Illinois and signed a contract to have some home repairs done. I am not able to proceed with repairs now. The contract does not state how long it is valid for. I would like the contract to lapse. I do not want to cancel the contract because there would be penalties.

Answer 1

How long ago did you sign it? There should have been a starting date so it looks like you "just" signed it and now want out. Unless there is a close date, it will be in effect until the work is finished. What you should worry about is, if they "all the sudden" show up, you will also be responsible for the cost of any materials they bought for the job, not just the cancellation fee.

Answer 2

Tell them you are broke and are so far in debt now that they'd never get paid.

So they'll be glad to tear it up.