Chapter 16 Notes - Chapter 16- Third Party Rights I....

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Chapter 16- Third Party Rights -or has to perform; -ee receives I. rd Parties a. Assignments-transfer contractual rights to another i. Assignor transfers contractual rights to assignee, who becomes the obligee as well 1. Assignor assignee (B A) obligee receives the rights 2. Obligee new obligee (B then has to pay C instead of A) ii. Upon assignment, assignor’s rights are extinguished iii. Assignee’s rights are subject to same defenses that obligor had against assignor iv. Assignment can be oral or written (unless S of F requires writing) v. Rights are non assignable where: 1. Prohibited by statute; a. Some contracts 2. The contract is for personal services; 3. the contract prohibits assignments (see exceptions on p 325- not responsible for them); 4. the rights or duties of obligor will be materially changed vi. Assignee must give obligor notice of assignment, or the obligor can discharge his obligation by paring the assignor 1. Obligor
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This note was uploaded on 11/28/2010 for the course LAW 1024066 taught by Professor K during the Spring '09 term at Fairleigh Dickinson.

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Chapter 16 Notes - Chapter 16- Third Party Rights I....

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