Is this legally binding?

Question

im a rapper and me and my friends formed a "label". Were actually getting really good feedback. So we typed up a contract on ms word. The contract states that we are not allowed to record with any other labels and are entitled to 2 lp albums. It also states that it is legally binding. I signed but i dont want to work with the label anymore. It is NOT notarized. Am i still obligated to the contract?

is there any way out of the situation?

Answer 1

What you have is a partnership agreement, not a contract, and a non-compete agreement.

Non-competes are commonly executed, but in most states are not enforceable.

Whether you did this using Word is a non-issue, as is the phrase "this is legally binding" and that it was not notarized.

You already know the answer to the real question here: are you morally obligated to honor the agreement you signed.

All this said, you shouldn't be asking legal questions on Y!A. I have yet to see a licensed attorney (admit to) answering legal questions online.

Answer 2

Any of this kind of stuff you officially would want to go to a lawyer. Having been on the record label side and done several contracts with artists, we always looked at each individual situation. We are in a situation with an artist right now, where he may need to get out of his contract with us, because the potential opportunity he might be able to get is so great. I want the best for this artist, and I know that if I let him go, it will help me in the long run. But most importantly, I want what is best for HIM! So, is there any possibility of sitting down with your former label and simply talking through the situtuation honestly, and getting them to let you off the hook?

Otherwise, you can always buy out your contract. Hey, money talks. If you are leaving cause a legit label is interested in you, and you are still under contract, have the label buy out your contract. If there is no other label involved, why not fullfill your contract. Give them two records. Get it done, fill your obligations, and move on.

Just some thoughts.

Jared R.
www.advantagemusicproduction.com

Answer 3

It appears the document is nothing more than an innocent cocument you and your friend typed up. While in itself, it may be a good contract, I doubt you need to worry about it that much.

Contract is a two way agreement. You agree to do "such and such" and in return you get "such and such." Legal term for this is a "consideration." If it lacks either side, it is not binding. It doesn't have to involve money, but it has to include some form of compensation for the task.

Another, contract is only good if someone wants to execute it. In another words, if you break it, nothing will happen to you unless the other party uses the contract and tries to collect from you. Is this even a possibility?

How old are you? If you are under 18, you are not legally allowed to enter into a contract. This means, you can neither originate it, or agree to it. Even if you did, in the eyes of the law, you are considered a minor. Then anything you sign is void and have no effect.

Notary is not required for the contract to be effective.

Answer 4

You need legal help, contact a lawyer that specializes in contracts and be careful next time, always have legal advise before you sign anything that hold you to a contract.

Answer 5

I would initially say yes. I think it would be prudent to work off the requirement of the "contract" and bid farewell. If you do not want to do that, see a contract attorney. Think twice the next time before you sign on the dotted line.

Answer 6

A binding contract requires something in return (consideration). If you would like to email me your contract, I will go through it and tell you if it is legally binding. My email address is: [e-mail]

Note: I'm a paralegal involved in contract law. Additionally, I'm a commissioned Notary Public. I could easily have my supervisor go through your contract.

Answer 7

Doubtful!

Answer 8

yeah