13 Dec 2020 Novation Agreement Deutsch
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The seller of a company transfers the contracts with its customers and suppliers to the buyer. An innovation agreement should be used for the transfer of each contract. For example: you borrow from a lender and want to transfer the debts later to someone else (perhaps a friend, business partner or buyer of your business) so that they can repay the lender instead of you. In this situation, you should use an agreement that novats the debt. By novation (latin novatio, (innovation), the German debt law means the cancellation of an obligation by the creation of a new obligation. Their practical importance is now low. These are effective sales or assignment contracts in which certain rights are retained by the seller (for example. B for the purchase of assigned work or for the use of the plant in specific locations). Suppose Michael buys a car from Peter, which owes him $5,000 in the sale price until Peter negotiates with the MoT. Michael sells the car to Fred on the same terms. Michael wants to get out, but he has obligations to both sides. Michael is persuasive Peter and Fred to enter into an innovation contract signed by the three, in which Fred Michael assumes commitments to Peter and Fred is now in Michael`s place with Peter. In this case, you should use an agreement to renew the contract.

While the gap between attribution and innovation is relatively small, this is a key difference. If you assign a novate, you may be able to be responsible for your original contract if the other party is not required to meet its obligations. The only way to transfer your rights or obligations is through an agreement signed by all three parties. But what if you are a service provider (z.B. an ISP) that sells your business with 10,000 customers? It is difficult to get one of them to register for one of them for one`s own innovation. In practice, a well-written initial agreement will contain a provision allowing the ISP to transfer (transfer) its contract without the client`s consent. But what if it doesn`t happen? As the Latin term understood, Novation was already known in Roman law. The Novation played a much more important role in Rome than it does today, because the Roman vision did not allow a commitment to be changed after the fact or for one of the people involved to be exchanged.

[1] The basis of a novation must be an existing obligation (Latin obligatio). [2] Novation was considered in the Gaius institutions as one of the five ways of repaying a liability. Novation`s role was because the subsequent modification of an obligation, whether in the content, or by changing the person of the creditor (transfer) or the debtor (taking debt) was only possible by Novation. Because of the often difficult determination of this desire to renew the debt, Justinian I has stated since the year 533 that a novation is explicit only if it wants. Thus, the novation and modification of the treaty coexist in german law today. If you wish to transfer a commercial lease to another commercial tenant for the fixed term, Net Lawman proposes an agreement to transfer a lease. Here too, a business is sold and the buyer takes over the seller`s service contracts.

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