Hi, I'm translating a contract from English to Spanish and I'm having problems translating original ownership contract partner and majority ownership.
I've translated majority ownership as propiedad mayoritaria and original ownership contract partner as el socio de la propiedad original del contrato but I'm guessing? Any help would be greatly appreciated!!!
Neither party is entitled to transfer their rights and/or obligations under this contract to a third party with exceptions of financial agent of the seller/buyer, as it is provided in appendix no. 3 of the present contract, and except where the third party is an entity whose majority ownership is the same as the original ownership contract partner. In any case the transferring party will notify the other party in writing (including telex). After signing the present contract all previous negotiations and correspondence between the parties in this connection will be considered null and void. If the seller ceases the contract for any reason or fails to comply with the conditions thereof, performance bond shall enter into force.