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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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can you provide me with some legal language that i can put

Resolved Question:

can you provide me with some legal language that i can put into a contract that i am putting together. I am lending some money to a friend. I want the right if he does not pay it back to sell the debt to a debt collection agency, but want to make she in the agreement that the borrower is aware that this might happen.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

You may insert the following clause in the contract:

"The Lender may at its sole discretion assign, novate or transfer its rights hereunder to any third party at any time. The Borrower shall not assign, novate or transfer its obligations hereunder to anyone without the prior consent of the Lender".

Hope this helps
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