DEED OF NOVATION

DEED OF NOVATION

Business never stands still. Companies are sold, investors come in, partners leave, projects change hands and duties are transferred.

But replacing one party with another is not as simple as crossing out a name and writing a new one.

If done wrongly, the entire agreement can turn out bad, disputed or legally unenforceable.

A Deed of Novation is a legal document that replaces one party in an existing contract/Agreement with a new party, transferring the rights and duties so the Agreement continues without interruption.

A poorly drafted Deed of Novation can expose a business to serious legal and financial risks.

Questions may arise over who is liable, whether duties were properly transferred or if the new party is legally bound by the agreement. Mistakes can be avoided.

So engage a Property and Business Lawyer before attempting to transfer rights or duties in a Contract.

The Lawyer will carefully review the original Agreement, identify risks, prepare a comprehensive Deed of Novation and ensure the transfer is legally valid, enforceable and protects the interests of parties.

If the transaction involves contracts, property development, real estate, business acquisitions or investment, never rely on assumptions. It needs careful legal attention.

Apex Chambers advises that you get a trusted Property and Business Lawyer in property and business transactions, to ensure that your Agreement/Contract is made to protect your interests today and avoid trouble.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates, Counsel and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls and Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com