1. Can a appendix contract "B" be attached to an existing loan agreement contract "A" without affecting the existing agreement ? If so, can the persons in the Appendix be different (greater in number) than "A".
e.g. More people are involved as debters in the Appendix to assure that the existing loan can be repaid.
e.g. Can the Appendix be attached to the debter's Will ? How to avoid the Appendix contract from being overridden by debter's update to his Will?
Asked 7 months ago in British Columbia
Categories:
Civil Litigation
Wills, Estates, Trusts
Debt & Bankruptcy
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 British Columbia lawyer
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This question cannot be answered, as there are insufficient facts set out? What is the contract about? What does it require? How will the additional parties be added, and with what obligations.
If this is a contract about a debt, yes, you can add additional debtors without affecting the obligations of the original debtors, but there are all sorts of considerations about what happens between the debtors that have to be carefully considered and clearly set out.
Contcacts cannot be addded to wills. You can have a contract to make a will in a certain form. If a pesron dies with debts, will or not, those debts are payable out of the estate defore distribution.
If you are going to seek legal advice, first write down your story, and an explanation of what you are doing, and make copies of the documents. Then you will be able to ask your particular legal question in context, and get useful advice.
Posted 7 months ago
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Comment from British Columbia
The existing original contracts are Loan Agreements between me and 1) him and 2) his limited partnership company. His limited partnership company does not have enough money to repay even if the company assets are sold. But he orally promises he will repay me, and even if he dies or if he is in legal incapacity, his wife will repay me. His wife also orally promises she will repay me if he dies or if he is in legal incapacity. Can I put such oral promises in writing as an Appendix to the original Loan Agreement without the other debt partners knowing ?
Posted 7 months ago
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