★ Key Takeaways
Additionally, a Novation Is Needed When a Third Party Acquires the Assets Involved in the Performance of a Government Contract Through a Sale of Assets (With Assumption of Liabilities), a Transfer of Assets Through a Merger or Corporate Consolidation, or Through Incorporation or Formation of a Partnership.
Take a look at a comprehensive breakdown concerning Do I Need a Novation Agreement.
Additionally, a Novation Is Needed When a Third Party Acquires the Assets Involved in the Performance of a Government Contract Through a Sale of Assets (With Assumption of Liabilities), a Transfer of Assets Through a Merger or Corporate Consolidation, or Through Incorporation or Formation of a Partnership.
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