assume the contract

USAGE SUMMARY

The phrase "assume the contract" is correct and usable in written English.
It can be used in legal or business contexts when referring to taking on the responsibilities or obligations of a contract. Example: "The new company will assume the contract previously held by the former supplier."

✓ Grammatically correct

News & Media

Science

Wiki

Human-verified examples from authoritative sources

Exact Expressions

2 human-written examples

There is a California statute that says that a municipality in Chapter 9 can't reject its contract with Calpers and can only assume the contract with Calpers consent.

The New York Times

Exactly why Enron wanted to assume the contract under terms that obligated it to pay money back with interest is unclear.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

55 human-written examples

"I'd assume the contracts have provisions like force majeure or 'act of war,' " Hill said.

The New York Times - Sports

Kmart was quick to assume the Martha Stewart contract, paying her company about $13 million it was owed when Kmart filed for bankruptcy on Jan . 22

The New York Times

Then it has to assume the Calpers contract – or do nothing, which itself raises some more mind-bending questions I'll save for another day.

The New York Times

If Johnson were traded, the new team would have to assume the rest of the contract or try to renegotiate the contract.

The New York Times - Sports

In this paper, we assume the day-ahead contracts have already been determined and restrict our study on the real-time scheduling.

Journal of Modern Power Systems and Clean Energy

In the next definition, we fix a date t∈[0,T) and we assume that the contract (mathcal {C}^{t}) is traded at the price p t at time t.

Probability, Uncertainty and Quantitative Risk

Next, one may assume that the contract was entered into by the hedger at time 0 at the price (p^{r}_{0} x,mathcal {C})) and was hedged by him on [0,t] through a replicating strategy ϕ, as given by Definition 18.

Probability, Uncertainty and Quantitative Risk

Until 1992, Britain had a common-law principle that assumed the marriage contract implied consent.

The New York Times

When Heinz Field opened, Coca-Cola also assumed the beverage contract for that stadium (the Pirates signed a deal with Pepsi for PNC Park), and also became the primary sponsor for the Steelers' own hall of fame, the Coca-Cola Great Hall.

Wikipedia

Expert writing Tips

Best practice

When using "assume the contract", ensure that all parties are clear about the specific terms and conditions being transferred or adopted. A comprehensive review is essential.

Common error

Avoid ambiguity by clearly defining which aspects of the contract are being assumed. Vague language can lead to disputes about liability and performance.

Linguistic Context

The phrase "assume the contract" functions as a verb phrase where 'assume' acts as a transitive verb taking 'the contract' as its direct object. It indicates the act of taking on the responsibilities and benefits of a contract. Ludwig AI indicates this is correct and usable in written English.

Expression frequency: Rare

Frequent in

News & Media

40%

Science

30%

Formal & Business

15%

Less common in

Wiki

10%

Encyclopedias

2.5%

Reference

2.5%

Ludwig's WRAP-UP

In summary, "assume the contract" is a phrase used to describe taking on the responsibilities and benefits of a pre-existing agreement. Ludwig AI indicates that the phrase is correct and appropriate for use. It is most commonly found in news, scientific and formal/business contexts, signaling a professional or neutral tone. Alternatives include "take over the contract" or "adopt the contract". When using the phrase, ensure clarity in defining the scope of responsibilities to avoid potential disputes. Always review the specific terms and conditions being transferred or adopted.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

Take over the contract

Emphasizes the transfer of control and responsibility regarding the contract.

Adopt the contract

Highlights a formal acceptance and integration of the contract into existing operations.

Accept the contractual obligations

Focuses on the acceptance of the responsibilities outlined in the contract.

Undertake the contract

Suggests a commitment to perform the duties specified in the contract.

Become liable under the contract

Stresses the legal responsibility and accountability assumed with the contract.

Honor the terms of the contract

Highlights the commitment to fulfill the conditions and stipulations laid out in the contract.

Ratify the contract

Implies formal confirmation and approval of the contract, often by an authoritative body.

Succeed to the contract

Suggests inheriting the contract, often in cases of mergers, acquisitions, or estate transfers.

Take responsibility for the contract

Highlights the aspect of accountability and management associated with the contract.

Assume responsibility for the obligations within the contract

This alternative is more verbose and places emphasis on the responsibilities associated with the contract.

FAQs

What does it mean to "assume the contract"?

To "assume the contract" means to take on all the rights and responsibilities outlined in an existing agreement, essentially stepping into the shoes of one of the original parties.

When might someone "assume the contract"?

This often occurs during business acquisitions, mergers, or bankruptcies, where a new entity takes over existing contractual obligations. It's also common when a party assigns its rights and obligations to another with consent.

What are some alternatives to "assume the contract"?

You can use alternatives like "take over the contract", "adopt the contract", or "accept the contractual obligations" depending on the context.

What legal considerations are involved when you "assume the contract"?

Carefully review the contract's terms regarding assignment or transfer. Ensure all necessary consents are obtained, and that the assuming party has the legal capacity and financial stability to fulfill the obligations.