✒️ Deed of novation of contract

There are several reasons why someone might want to novate a contract, such as when using a Deed of Novation of Contract. First, novation can be used to transfer all or part of the contract to a third party, which can be helpful in the event that the original contracting parties can no longer fulfill their obligations under the contract. Second, novation can be used to modify the terms of the contract, which can be beneficial if the original terms of the contract are no longer suitable for the parties involved. Finally, novation can be used to terminate the contract entirely, which can be useful if the parties involved can no longer work together.