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Are designer contracts assignable in COLORADO?

1 Answers. Asked on Jul 09th, 2017 on Contracts - Colorado
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I am purchasing a condo that is being remodeled. A design Co has a contract with my sellers. Can that contract be assigned to me while job is being finished. All that needs to be done is the punch List, There is no mortgage. I realize this is cart before the horse but we need to close on the property. My concern is if the Designer can legally assign the contract.
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Answered on Aug 08th, 2017 at 2:28 PM

it depends on what the contract provides.

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Most people and business enter into contracts on almost a daily basis. Simply put, a contract is a legally binding agreement between two parties. One party makes an offer to do something in exchange for "consideration," or payment, and the other party accepts that offer. Contacts can be verbal, in writing or even implied. Some contracts--such as signed credit card receipts--are very simple. Others--such as those used to buy or sell real estate--are far more complicated. If you are entering into a complex transaction, it pays to hire a contract law attorney as early as possible in the process. Your lawyer can help negotiate the terms and conditions of the agreement, then draft the contract or review the contract that has been presented to you. Law firms with experience in contract law can also defend you if you or your company has been accused of breaching a contract, or if you need assistance enforcing a existing contract.
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