Q&As

Is there any benefit to be gained by executing a novation agreement as a deed?

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Published on LexisPSL on 21/09/2018

The following Commercial Q&A provides comprehensive and up to date legal information covering:

  • Is there any benefit to be gained by executing a novation agreement as a deed?

Is there any benefit to be gained by executing a novation agreement as a deed?

There are two key features of deeds that distinguish them from simple contracts:

  1. deeds are enforceable irrespective of the lack of consideration (in contrast with simple contracts, which are formed pursuant to the contract law principle that requires valuable consideration to be given for the promises being made), and

  2. the limitation period for claims made in connection with deeds is 12 years (compared with the usual limitation period for breach of contract, which is six years from

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