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Employment Contracts

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Geckocell

Guest
1 year ago I signed a contract with my employer for a term of 2 years. In return I received a bonus and a promise of a significant salary increase at the 1 year point of the contract. I have one year left on that contract now. Aproximately 6 months ago my employer was bought out and I was given the option once again of a substantial sum of money in return for signing another contract. I accepted. This contract ends 1 month prior to the first contract. Since my first contract was with my company before the buy out, are the new owners responsible for its fulfilment and if they breech this contract does if make the other contract null and void? Is it legal to have 2 contracts in effect at the same time or does the first contract supercede the second?
 


I AM ALWAYS LIABLE

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Geckocell:
1 year ago I signed a contract with my employer for a term of 2 years. In return I received a bonus and a promise of a significant salary increase at the 1 year point of the contract. I have one year left on that contract now. Aproximately 6 months ago my employer was bought out and I was given the option once again of a substantial sum of money in return for signing another contract. I accepted. This contract ends 1 month prior to the first contract. Since my first contract was with my company before the buy out, are the new owners responsible for its fulfilment and if they breech this contract does if make the other contract null and void? Is it legal to have 2 contracts in effect at the same time or does the first contract supercede the second?<HR></BLOCKQUOTE>


My response:

You agreed to what is called a "novation." The first contract was superceded by the second.

IAAL



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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 
G

Geckocell

Guest
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:

My response:

You agreed to what is called a "novation." The first contract was superceded by the second.

IAAL

<HR></BLOCKQUOTE>
"Novation", does that mean the first contract is no longer in effect and I am bound by the second contract only?
 

I AM ALWAYS LIABLE

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Geckocell:
Originally posted by I AM ALWAYS LIABLE:

My response:

You agreed to what is called a "novation." The first contract was superceded by the second.

IAAL

<HR></BLOCKQUOTE>
"Novation", does that mean the first contract is no longer in effect and I am bound by the second contract only?
My response:

A novation is: Evidence showing the parties agreed to substitute a new obligation for an existing one with the intent to extinguish the latter (i.e., evidence establishing a novation) is admissible to show the terms of a written contract have been extinguished. [See Ca Civil §§ 1530-1532; McKeon v. Gisuto (1955) 44 Cal.2d 152, 156, 280 P.2d 782, 783-784; Malmstrom v. Kaiser Aluminum & Chem. Corp. (1986) 187 Cal.App.3d 299, 317, 231 Cal.Rptr. 820, 829]





------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 
G

Geckocell

Guest
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
My response:

A novation is: Evidence showing the parties agreed to substitute a new obligation for an existing one with the intent to extinguish the latter (i.e., evidence establishing a novation) is admissible to show the terms of a written contract have been extinguished. [See Ca Civil §§ 1530-1532; McKeon v. Gisuto (1955) 44 Cal.2d 152, 156, 280 P.2d 782, 783-784; Malmstrom v. Kaiser Aluminum & Chem. Corp. (1986) 187 Cal.App.3d 299, 317, 231 Cal.Rptr. 820, 829]



<HR></BLOCKQUOTE>
Thank you!!!

 

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