Under English law it is often possible for one person to assign to another his or her rights under a contract. However it is not usually possible to assign contractual obligations. That is where novation agreements come in.
A novation agreement is an agreement between three parties whereby one party steps into another's contractual shoes.
Key terms in a novation agreement may include: the definition of the rights and obligations in question; and the scope of the release given to (and any warranties and indemnities granted by) the person exiting the contractual arrangement.
If you would like a quote for the preparation of novation agreement please complete the form below.
Some of the laws relating to commercial contracting are complex and require a great deal of study to master.
The resources identified on this page may help you to identify legal issues and solve straightforward legal problems, but they do not go very far toward providing all the information you will need to prepare quality legal documentation.
If you require a commercial contract, we recommend that you instruct a professional. A badly drafted contract can be worse than no written contract at all.