Signed a contract with a friend, now I'm stuck in a mess

Tbh this happened last month in Phoenix. I inked a 12-month project deal with a buddy without a clear exit clause, and he's already missed 3 deadlines. I had to hire a lawyer for $450 just to review it, and we're not even talking yet. Has anyone else survived working with a friend, or do I just cut my losses now?

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