Notice Requirement for Termination of a Contract

[mstershake2010]

My question involves business law in the state of: Nevada

I signed a contract with a company over a month ago, and I am very dissatisfied with them and would like get out of my contract.

When signing I was unclear as to if I could terminate the contract at any time (with 20 days notice of course), I asked the person that was handling me and recruited me, and he clarified for me that I could indeed end the agreement at any point of the contract, given 20 days notice.

So here's exactly what the contract says under the "Term" section

The term of this Agreement will begin on the Effective Date and will end on the third annual anniversary thereof. This Agreement will automatically renew at the end of the Term for subsecquent one (1) year periods on each anniversary date of the Effective Date after the third year. Notwithstanding any contrary provision in this Agreement, either party may terminate this agreement on written notice of not less than twenty (20) business days.

After contacting an employee of the company he said that I would be unable to end the agreement...

So am I not able to end the agreement at this time? And if so, then what is the 20 day termination referring to.
And also does the fact that I was told 2 different things hold any bearing? (I fear it doesn't)

[lawaholic]

What's written in a contract always takes precedence over any verbal agreement or advise, because you signed according to the terms of the contract, not according to the terms of a verbal conversation/agreement. However, that last sentence begins, "Notwithstanding any contrary provision in this agreement...", which leads me to wonder if there's anything anywhere else in the contract preventing you from terminating it or otherwise dictating terms of a termination. (Like stipulating that you must pay a termination fee, for example.) If there's nothing else in the agreement referencing contract termination, I'd say they can't legally stop you from terminating as long as you give them at least 20 days notice. (Please note, however, that I am not a lawyer!)

[mstershake2010]

Thanks for the helpful response lawaholic, I'm trying to set up a meeting or something with an attorney at my university so that he can read over the contract and give me a solid answer to this dispute. So I can know whether to keep fighting it or just admit defeat and make the best out of it.

[Mr. Knowitall]

I signed a contract with a company over a month ago, and I am very dissatisfied with them and would like get out of my contract.

You posted this as a business-to-business contract law matter. Your business is what, their business is what, and the contract is for the provision of what goods or services, by whom to whom? Both you and this other company are based in Nevada?

The term of this Agreement will begin on the Effective Date and will end on the third annual anniversary thereof.

So the initial term of the contract is three years.

This Agreement will automatically renew at the end of the Term for subsecquent one (1) year periods on each anniversary date of the Effective Date after the third year.

And once the initial term is over, the contract automatically renews for periods of one year.

Notwithstanding any contrary provision in this Agreement, either party may terminate this agreement on written notice of not less than twenty (20) business days.

I expect that was intended to mean that you can cancel the contract not less than 20 days before it renews, but that actually says that you can cancel the contract at any time on written notice of not less than 20 business days.

So am I not able to end the agreement at this time? And if so, then what is the 20 day termination referring to.

Good question. I cannot read the contract from where I'm sitting, so I'll have to stick with what I wrote above. You need to determine for yourself whether there's additional contract language that might shed additional light on the clause and its intent, or have your contract reviewed by a lawyer.

And also does the fact that I was told 2 different things hold any bearing? (I fear it doesn't)

The potential for that would be greater in a consumer law case, but you have told us that this is a business-to-business matter, meaning that you're assumed to be a sophisticated consumer and able to read and understand the contracts you sign.