CHAPTER 16 - CHAPTER SUMMARY Assignment of Rights...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER SUMMARY Assignment of Rights Definition of Assignment voluntary transfer to a third party of the rights arising from a contract so that the assignors right to performance is extinguished Assignor party making an assignment Assignee party to whom contract rights are assigned Obligor party owing a duty to the assignor under the original contract Obligee party to whom a duty of performance is owed under a contract Requirements of an Assignment include intent but not consideration Revocability of Assignment when the assignee gives consideration the assignor may not revoke the assignment without the assignees consent Partial Assignment transfer of a portion of contractual rights to one or more assignees Assignability most contract rights are assignable, except assignments that materially increase the duty, risk, or burden upon the obligor assignments of personal rights assignments expressly forbidden by the contract assignments prohibited by law Mann CH 16- 1 Rights of Assignee...
View Full Document

This note was uploaded on 10/14/2010 for the course BUS 5503 taught by Professor Sorrell during the Fall '10 term at Troy.

Page1 / 4

CHAPTER 16 - CHAPTER SUMMARY Assignment of Rights...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online