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Novation

Novation

Another classic example is where Company A enters a contract with Company B and a novation is included to ensure that if Company B sells, merges or transfers the core of their business to another company, the new company assumes the obligations and liabilities that Company B has with Company A under the contract. So in terms of the contract, a purchaser, merging party or transferee of Company B steps into the shoes of Company B with respect to its obligations to Company A. Alternatively, a "novation agreement" may be signed after the original contract in the event of such a change. This is common in contracts with governmental entities; an example being under the United States Anti-Assignment Act, the governmental entity that originally issued the contract must agree to such a transfer or it is automatically invalid by law.

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  1. Novation // Start Making - House

Synthesizer Novation CIRVUIT
By Novation
$405.00
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Synthesizer Novation MiniNova Synthesizer
By Novation
$427.00
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Novation Bass Station II w/ Gig Bag
By Novation
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