Deed of Novation

Many businesses start out being traded either as a sole trader or as a partnership. A partnership can occur whenever there are two or more people working together with a common commercial aim - this may or may not be recorded in a formal partnership deed.
 

Sometimes the owner of the business will have entered into contracts with his or her customers and the buyer will want to have the benefit of these. They will not be directly enforceable between the customer and the buyer because there is no contract between them. To get over this the buyer will either have to enter into new contracts with the customers or the existing contracts will need to be novated. Either way it will require the co-operation of the customer. A deed of novation can be downloaded by clicking the button below.

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The documents available on this site have been prepared for use in England & Wales. They may not be valid if used in other areas.