Post: Contract law
Posted by Jenna on 5/10/10
I'm stumped...I don't believe that novation can help her,
because the crux of novation is assent, and the
father-in-law doesn't want to pay the mortgage. However,
what about third party beneficiary?
Gladys and Sam married. When they bought a house, Sam's
father signed the mortgage note with them, and made the
monthly house payments. Several years later, Gladys moved
out of the house and Sam's father stopped making the monthly
payments. Shirley moved into the house with Sam, but they
did not make any payments on the house mortgage. The
mortgage company told Gladys to make the payments. Gladys
took a business law course many years before and remembers
the terms third-party beneficiary, and novation. Can either
of these principles help her?
Posts on this thread, including this one
- Contract law, 5/10/10, by Jenna.