DIY Legal Forms

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Novation of Sales Agreement

Introduction. Agreement made on [date] by and among [name], with principal place of business at [address] (Seller), [name], with principal place of business at [address] (Buyer), and [name], with principal place of business at [address] (Substituted Party).

1. Description of Sales Agreement. Seller has entered into a sales agreement dated [date], involving the sale of [description of goods to be sold] (the Sales Agreement), with Buyer. A copy of the Sales Agreement is attached hereto [omitted].

2. Assignment of Rights; Delegation of Duties. The parties to this Agreement hereby substitute Substituted Party for Seller (or, Buyer) in the Sales Agreement. Substituted Party hereby acquires all the rights and assumes all the duties of Seller (or, Buyer) under the Sales Agreement. Substituted Party hereby promises to perform faithfully and fully all the duties delegated to Substituted Party hereunder.

3. Novation. In consideration of the promises herein contained, Seller (or, Buyer) is fully relieved of any and all further obligations to perform under the Sales Agreement and is fully relieved of any and all further liability to Buyer (or, Seller) arising out of the Sales Agreement.

[signature]

Seller

[signature]

Buyer

[signature]

Substituted Party

*** If Required By State Law ***

This Section for Notary:

ACKNOWLEDGMENT

State of _________

County of ________ [COUNTY]

On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

Signature ________
Notary

My commission expires: _____

(Seal)