- A buyer signs an offer as "John Smith and/or assigns." The purpose of
this wording is to.
1.Reserve the right to transfer the contract to another buyer before closing
2.Make the purchase agreement a personal-services contract
3.Release John Smith from all liability once the offer is signed
4.Convert the purchase agreement into an option contract
1.Reserve the right to transfer the contract to another buyer before closing
2.Make the purchase agreement a personal-services contract
3.Release John Smith from all liability once the offer is signed
4.Convert the purchase agreement into an option contract