new company taking over a contract in old company name
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new company taking over a contract in old company name
my partner has a contract for work with a general contractor that we will be
doing with the new business but i do not want to change the contact. can i add
the old company name as a DBA, or other??
Asked on November 29, 2017 under Business Law, Indiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You want the new company to take over the contract in writing, to make sure they are obligated to it. This can be done with a one-page addendum to the contract stating the names of the new/current parties to the contract and stating that the new company is assuming the contract and will be bound by all its terms.
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