An Amendment To Add Buyer To Contract is utilized when parties wish to incorporate an additional buyer into an existing contractual arrangement. This document, governed by U.S. federal and state laws, is commonly used in situations where a new party needs to join as a co-buyer, such as adding a business partner or spouse to a purchase agreement. The amendment specifies the rights, obligations, and liability distribution between all parties while preserving the original contract's core terms. It requires careful consideration of assignment laws, consumer protection regulations, and state-specific requirements.
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1. Parties: Identification of original parties and new buyer being added
2. Background: Reference to original contract and reason for adding new buyer
3. Definitions: Key terms used in the amendment
4. Addition of New Buyer: Formal addition of new buyer and their rights/obligations
5. Effect on Original Contract: Statement that all other terms remain unchanged
6. Execution: Signature blocks for all parties
1. Consideration: Details of any payment or consideration for adding buyer
2. Representations and Warranties: New buyer's confirmations and guarantees
3. Liability Allocation: Specific terms about shared liability between original and new buyers
1. Schedule A - Original Contract: Copy of the contract being amended
2. Schedule B - New Buyer Information: Detailed information about new buyer including corporate details and contact information
3. Schedule C - Consent Documents: Any required third-party consents for the addition of the new buyer
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