What is a difference between modification and novation to replace . . . A modification changes the terms to an obligation, whereas a novation discharges the duty For example, party A has a contract to: 1) purchase 100 widgets from party B for $100; and 2) to purchase a storage building for $500
Addendum not signed by seller; how does this affect contract viability . . . Hello, I signed an addendum to the purchase agreement but the seller had not and as far as I know has still not signed it The addendum states that it is 'incorporated into the Agreement by his reference All other terms and conditions of the Agreement shall remain in full force and effect This Addendum is not a novation of the Agreement " My question is: I want to back out, for a variety of
Is a contract still legal if the business changed their name? Even if the business name changed through a change in entity, there's a legal concept called a "novation" where an assignment wouldn't be required Again, that's something you should discuss with an attorney if you want a definitive answer
Can I cancel a contract for a project that has not started yet . . . If this is a home solicitation contract, you have 3 days to cancel; not true for other contracts, unless the contract provides for cancellation, or there has been a breach by the other side If you cancel, you may be liable for the contractor's lost profit, but no one can say without reviewing the contract
Can I write a release of liability on a check for the agreed upon . . . After causing very minor damage to a car mirror, the other party agreed to accept an 80 dollar check from me I would like to cover myself from a claim later on Can I write a release, such that may begin "by cashing this check " on the check itself and have it be legal?