Will u be liable if you dont proceed with your employment contract?

I signed an employment contract which states that should i pre-terminate the contract i will pay the company 50k. My job should start on Jan. 3. What if I will inform the company that I will not continue my job for personal reasons before Jan 3. May i be held liable?

You have signed the contract, so you will be held accountable for it. However, since you have not officially started and the company would have enough time to find a replacement, you may want to enter into negotiations to remove yourself. Again, the company holds all the cards and can almost force you to agree to anything not exceeding the 50K requirement.

Most companies will let you out being as how they do not want to employ someone that does not want to work for them. They will probably let you out if they cannot talk you out of it provided that you do not enter into direct competition with their company by going to work for a rival company.

if you signed a contract that say you are liable then you are liable

only option is that the contract may not be enforceable but you'd need a lawyer to find out about that

Sure you have signed the contract and if we strictly focus on the contract itself, you will be liable. However, employment contract is generally treated differently because 49 out of 50 states are what we called "At will states." The exception is Montana. That means if you don't want to work for your employer, you can leave your job as you wish. They can fire you also. The policy reason is that employer-employee relationship is very close and if two people can't get along and want out, it is better to let them out of the employment contract than to keep them together in a hostile situation that may result in violence.

Do be careful if you are an independent contractor and the contract you sign isn't a true employment contract, but rather a contract to perform a specific job. For example, you are a carpenter and contracted with a homeowner to renovate his kitchen. In that case, that is not an employment contract and you can't just not show up for the renovation.

Technically, you are liable if you signed on the dotted line. However, if you are physically unable to do the job, because of health reasons, then you may have a way out.