What is the Difference Between Assignment and Novation?

Assignment of contracts is a fairly common practice in the business world. In an assignment, the person assigning the contract - the "Assignor" - assigns the benefits of the contract the Assignor holds to a new person (the "Assignee") who takes the benefit of that contract "the Assignee". Some contracts may expressly prohibit assignment and some contracts provide that a contract may not be assigned without the consent of the other party. If a contract has no provision relating to assignment, then the general rule is that it may be assigned, with a few exceptions.
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Obtaining an Enforceable Guarantee

There are many circumstances where businesses might give credit – even without formally doing so. Providing goods or performing services in advance of full payment is extremely common, but if a company or sole trader you are dealing with has financial problems or a poor credit history, then you may not get paid.
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Electronic Signing of Contracts

Part 4 of the Contracts and Commercial Law Act 2017 ("CCLA") provides that, with some few exceptions, where a signature is required by law (including to conclude a contract) you can sign that document electronically provided certain conditions are met. An electronic signature is defined in the CCLA as a method used to identify a person and to indicate that person's approval of that information.
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Hardship - Consumer Credit Contracts Under a Covid-19 Related Lockdown

Section 55 of the Credit Contracts and Consumer Finance Act 2003 ("CCCFA") provides that a person who is unable reasonably, because of illness, injury loss of employment, the end of a relationship, or other reasonable cause, to meet their obligations under a consumer credit contract and who reasonably expects to be able to discharge their obligations if the terms of the contract were changed as provided for under the CCCFA may apply to a creditor to agree to that change. In the present Covid-19 lockdown, we expect these provisions to be tested and both debtors and creditors need to know their rights and responsibilities in these sorts of situations.
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Unfair Contract Terms

A recent decision in the High Court of New Zealand has provided the first instance of the Courts using the Fair Trading Act 1986 ("FTA") to declare specific terms in a standard form consumer contract unfair, and therefore unenforceable. The decision in Commerce Commission v Home Direct Limited1 was made pursuant to sections in the FTA which were introduced in 2013 and give the Commerce Commission power to apply to the District Court or High Court for a declaration that a term in a standard form consumer contract is unfair.
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