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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Can a new owner-management company nulllify a contract or parts

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Can a new owner-management company nulllify a contract or parts of an existing contract without disclosure? Thank you for your consideration.

Thank you for your question. Please permit me to assist you with your concerns.

To answer your question directly, if a new company takes over a contract, they 'step into the shoes' of the past party. That means that they are required to honor all of the parts of the initial agreement unless the contract allows for modification or nullification from one side. If not, the initial terms remain and one side of the contract is not able or permitted to make unilateral changes without the other party consenting to terms. Disclosure is required, and so is consent.

Good luck.

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