Is a consulting contract still in effect if all terms have been met and payment received?

Question by eldelfinalegre: Is a consulting contract still in effect if all terms have been met and payment received?
If a custom software consulting contract has a 1 year term, for example, and all deliverables are met within 6 months, let’s say, then is the contract still in effect if I invoice the customer and am paid? More importantly, if I develop more custom software for them under good will, is that covered under the terms of the contract, which says they own source to anything I developed in the original contract? The new software is substantially different from the software originally developed under contract.

Best answer:

Answer by betotron
yes
all parties involved should sign/date completed documents

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