At our coworking space, most members sign up for the Monthly Membership which is on a one-year basis. We have them sign something that states this clearly, and says that if they choose to leave the contract early, they would need to buy out of it in full. Recently, a member decided to quit, and to buy out the remainder of his membership, he'd owe $1,600. There's no way he was going to pay that... What do you charge for this penalty? What do you think is fair to enforce the one-year term?
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