| Any contract law experts? 10:32 - Feb 10 with 573 views | Blue_Stain |
I've recently signed a novation agreement with a prominent DD processor following the purchase of assets from a cloud software business and, after 2 months, they have told me there is debt on the account. Am i liable or does the debt need to be disclosed up front? [Post edited 10 Feb 2022 10:34]
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| Any contract law experts? on 10:50 - Feb 10 with 517 views | farkenhell |
I'm not an expert by any means, although I do have a little experience of contracts.
You need to look carefully at the terms of the novation agreement. There should be a clause or clauses setting out each party's rights and obligations, limits to liability - that sort of thing. If, as I suspect (by virtue of the fact that you have posted this), the contract is silent as to disclosure of this sort of thing, then you might struggle to infer an implied term, especially if the contract contains an "entire agreement" clause (which is pretty standard in commercial contracts). I can't think of anything in law that would infer an implied term in these circumstances.
Hope this helps. | | | |
| Any contract law experts? on 11:06 - Feb 10 with 475 views | Blue_Stain |
| Any contract law experts? on 10:50 - Feb 10 by farkenhell |
I'm not an expert by any means, although I do have a little experience of contracts.
You need to look carefully at the terms of the novation agreement. There should be a clause or clauses setting out each party's rights and obligations, limits to liability - that sort of thing. If, as I suspect (by virtue of the fact that you have posted this), the contract is silent as to disclosure of this sort of thing, then you might struggle to infer an implied term, especially if the contract contains an "entire agreement" clause (which is pretty standard in commercial contracts). I can't think of anything in law that would infer an implied term in these circumstances.
Hope this helps. |
Thanks - jammy sods! | | | |
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