Episode 22 of our Journey Through a Contract series sees Paul Nightingale and Joel Murphie discussing the distinction between assignment and novation of a contract. One of those provisions inevitably hidden at the back of a contract but not one to be ignored.
Paul and Joel explain the importance of considering provisions to address assignment and novation including could a contract be transferred to a competitor? Whether you should have the ability to assign within your group? Can you assign or novate without consent? Are there any restrictions that you would want to impose on who could take an assignment of your contract? They then go on to consider the practicalities of a partial assignment.
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The Journey Through a Contract series is brought to you by the Commercial and Projects team at Shoosmiths, aimed at explaining the basic terms of a commercial contract.
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