The idea is to find an offeree for and offer or who wants to dispose their contract either temporally or permanently. This will be done through a website and a mobile application, which will be our platform for them to meet, and we as the company provide a support to ensure fair transaction amongst each other.
We are targeting credit consumers worldwide on electronics for the first year of operations and scale by introducing supports on cars, property and more. We will be guided by the law term called novation, which means: Novation is substitution of an original party to a contract with anew party, or substitution of a new contract with a new contract.
Upon substitution, the obligations of the withdrawing party are automatically discharged and no express-release is required. To be effective, however the substitution must be agreed –to by all the original and new parties to the contract.
Entrepreneur : Simphiwe Buthelezi
