Unless you're talking a lot of money and I mean thousands a contract is a waste.
I had a contract for New Years Eve many years ago for I think around $500.The club decided to cancel the day before cause they hadn't sold enough tickets. Went to small claims Court & yup the Judge ruled in our favor. Does he have to pay? No. You now need to file a lawsuit against this person to retrieve. Small claims is sort of like non binding arbitration.
I know this ain't what you asked but thought I'd mention it.States may very.


John
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"The only Band is a Real Band"
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