Lets say there are 3 entities:
X ,Y ,Z
Xowes money to
Ystipulated in a contract named
Ywants to change the contract , so that
Xnow owes money to
Z- we will call this contract
What needs to happen for the creation of
Cneed to be terminated ?
Cattached from now on as an annex to
There is no need for
C1, we just update in
Cthe side that is owed money (
I do not understand how the update of a contract happens if you want to update just one side , in our case the one that is owed money - from
Thank you all for your responses.I will give this update to clarify what i want to ask.
The question is not rlly about what
X owes ( the right/value) or what type of contract it is.What i am interested is how can the paperwork be reduced and generalised lets say digitally when the contract
Can I , as a digital service provider , get
Y's original contract (as a source of Right/Value) , provide a generalised form for him and
Z to complete and sign (digitally) as seller and buyer , put them together (initial contract and form) and voila now
Z legally owns the Right/Value ?
I do not want to rewrite the part of the contract that remains constant (the right/source of value)
I want to know what is the simplest way to preserve the part of the contract that remains constant - the right/value- while minimizing the paperwork needed when
Y stipulated in contract
When the contract changes hands from
Z3 etc can i keep the original contract as the source of right/value and just provide a form between the buyer and seller of the right ?
I want to reuse the source of value part/paperwork/contract.
So if Z has the original contract ( X to Y) and also a contract that says (Y gave to Z) is it enough legally ? Can Y do malicious activity and say : i have the original contract that says X owes me.In this case which contract gets priority ?