What will happen if I rescind a signed Contract?

Unfortunately, this is a classic example of "buyers remorse" or the children's concept of calling a "do-over." These things do not bode well in the business world with contracts entered into by adults. Essentially the law will presume that if you are competent (i.e. not crazy or impaired) and adult (over 18) and you sign contracts you knowingly agree to them and bind yourself to thier terms, when they are in writing and signed. This is a critical assumtion as you now have a sticky wicket, where you signed a non-compete and the employment agreement such that the employer could seek to enforce it legally if nothing but to be jerk. However, if you dont intend to work there, youshould discuss this with the employer to work it out. My reference to the importance of understanding the position above is that you shuold not act like the employer is a jerk or become indignant if they are willing to let you out or act like they are doing you a favor by doing so, because they may well be. I have a lot of clients that think that they have a right to go back on thier signed word, after they though it over, whether in instances like this, buying a car, etc., and an easily resolved problem spirals out of control in a clash of egos. On consolation, however, if you get involved in litigation, is that the non-compete may be hard for the empoyer to enforce, if you never actually work there. They are usually focused on keeping you from stealing clients or taking benefit of special training to competitor etc. and not punish people or enslave them. The caveat is that you dont want to let this get to that point as you will likely be forced into litigation at great expense to have a judge rule on this.