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Thomas Swartz
Thomas Swartz, Attorney
Category: Legal
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Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
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On October 17, 2011, myself and another person signed a "Domain

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On October 17, 2011, myself and another person signed a "Domain Name Purchase and Transfer Agreement". The other person was to purchase my domain for $500 as stated in the contract, however he never paid me because his business partners bailed out on him. Now I want to sell the domain to someone else, but this old contract has no dates or time frames mentioned. How can I legally void this old contract? The other person is willing to sign to void it, but I do not know how best to do this. Can we both just write "null and void" on the old contract and sign it again? Or do we need a new contract to void the old one? Any advice would be appreciated.

You and the other person should execute what is known as a Mutual Recission of Contract Agreement. Such an agreement essentially states that you have previously entered into a contract, on such and such a date, and that both of you mutally agree to rescind that contract, and that neither of you have any rights or duties to each other under that contract. And you would attach a copy of the "old" contract to the Recission Agreement. You can find a sample of such a Recission contract here: Mutual Recission of Contract.

I hope this helps.


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