[chapter_15]_vocab - A contract cannot be assigned if the...

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Chapter 15 Privity of contract - The state of two specified parties being in a contract Assignment - The transfer of contractual rights by l the oblige to another party Assignor - The obligee who transfers a right. Assignee - The party to whom a right has been transferred. Rights That Call and Cannot Be Assigned 1. Personal service contracts - Contracts for the provision of personal services are generally not assignable. 2. Assignment of future rights - Usually, a person cannot assign a currently nonexistent right that he or she expects to have in the future. 3. Contracts where assignment would materially alter the risk -
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Unformatted text preview: A contract cannot be assigned if the assignment would materially alter the risk or duties of the obligor. 4. Assignment of legal action -Legal actions involving personal rights cannot be assigned. Effect of all Assignment of Rights Where there has been a valid assignment of rights, the assignee “stands in the shoes of the assignor.” That is, the assignor is entitled to performance from the obligor. The unconditional assignment of a contract right extinguishes all the assignor’s rights, including the right to sue the obligor directly for nonperformance. Notice ()f Assignmel1t’ ....
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