417.412. Termination of contract, procedure--service on contract not required, when. - Missouri Statutes

Termination of contract, procedure--service on contract not required,when.

417.412. Until payment for invention development services is made,the parties to a contract for invention development services have theoption to terminate the contract. The customer may exercise the option byfailing to make payment to the invention developer. The inventiondeveloper may exercise the option to terminate by giving to the customer awritten notice of his exercise of the option. The written notice becomeseffective on its receipt by the customer. Notwithstanding any contractualprovision to the contrary, payment for invention development services maynot be required, made, or received, before the seventh day after the day onwhich the customer receives a fully executed copy of the contract.

(L. 1995 S.B. 80 & 88)