Ever sign a contract where the penalty provisions for being a little bit late seemed somewhat high? Compared to the amount owed, perhaps even excessive? For instance, in a commercial lease where you pay $2,000 a month for rent, can your landlord charge you a $100 for paying a day late? How about a $1,000? What about a million bucks?! Crazy, right? But is it legal?
Disclaimer: The following information does NOT constitute legal advice and is only...