Employment Agreements

[spinnaker]

What is the name of your state? MN - A small company is purchased by another. The employment agreement of the original small company has no transfer or assignability clause. Is this agreement still enforceable years later? No new agreement is in place.

 

[Some Random Guy]

It all depends on the wording of the agreement and the manner in which the company was purchased (purchase of assets or purchase of the business)

 

[JETX]

What is the name of your state? MN - A small company is purchased by another. The employment agreement of the original small company has no transfer or assignability clause. Is this agreement still enforceable years later? No new agreement is in place.

If the agreement was valid before, the change of ownership does NOT affect its validity (unless there is a clause to the contrary in it).