
Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
النسخة 19الرقم المعياري الدولي: 978-1305654921
Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
النسخة 19الرقم المعياري الدولي: 978-1305654921 تمرين 5
Van Cleef Asset Management, Inc. contracted to sublease office space from NCS Healthcare, Inc. for a five year term. After two years, NCS Healthcare directed Van Cleef to mail checks to a different location. Van Cleef complied, but for a thirteen-month period, the checks were never endorsed or deposited by NCS Healthcare. Around this time, NCS Healthcare was acquired by Omnicare, Inc., which contacted Van Cleef to inform them that recent rent payments to NCS Healthcare had not been received. An Omnicare representative directed Van Cleef to send future rent payments to Omnicare for the remaining term of the lease and that "if those payments were made... all obligations of Van Cleef under the sublease would be duly performed and satisfied." Van Cleef sent remaining rent payments to Omnicare and after the sublease terminated, Van Cleef vacated the premises. An affiliate of NCS Healthcare later argued that it was the assignee of rent payments owed to NCS Healthcare under the sublease agreement and sued Van Cleef for the thirteen months worth of rent that it alleged had not been received. Van Cleef argued that the negotiated agreement with Omnicare for the sublease payments was a novation of the original sublease agreement. Who was correct?
التوضيح
Novation refers to a situation when a co...
Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
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