<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 The first contract was superceded by the second.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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