Q - RIGHTS OF THIRD PARTIES

Q - RIGHTS OF THIRD PARTIES - ASSIGNMENT • ASSIGNOR...

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Rights of Third Parties T. Leigh Anenson, J.D., LL.M. P A E T R H C 17 “The best minute I spend is the one I invest in people.” Kenneth Blanchard, The One Minute Manager (1993)
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CONTRACT LAW Introduction to Contracts The Agreement: Offer The Agreement: Acceptance Consideration Reality of Consent Capacity to Contract Illegality Writing Rights of Third Parties Performance & Remedies
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Learning Objectives Assignment of Contracts Delegation of Duties Third-Party Beneficiaries
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RIGHTS OF THIRD PARTIES GENERAL RULE : ONLY PARTIES TO A CONTRACT CAN ENFORCE IT EXCEPTIONS: (1) ASSIGNMENT OF RIGHTS (2) DELEGATION OF DUTIES (3) THIRD PARTY BENEFICIARY
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ASSIGNMENTS OF RIGHTS EFFECTIVE UNLESS AGAINST PUBLIC POLICY INCREASE DUTY OR RISK OF PARTY CONTRACT FORBIDS Assignment of Contracts
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Unformatted text preview: ASSIGNMENT • ASSIGNOR WARRANTS VALID CONTRACT AND NOT VOIDABLE TO ASSIGNEE • ASSIGNEE MUST NOTIFY OBLIGOR OR RISK OF DISCHARGE • ASSIGNEE “STEPS IN SHOES” OF ASSIGNOR (SO BREACH AND ALL DEFENSES VALID AGAINST ASSIGNEE) • the delegation of a duty does not extinguish the duty owed by delegator unless there is a novation • BUT the obligee cannot insist that the obligor-delegator perform unless … – contract specifies – contrary to public policy – substantial interest in obligor performance Delegation of Duties • Intended beneficiaries of a contract may sue in the event of breach • Incidental beneficiaries have no right to sue in the event of breach Third-Party Beneficiaries...
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This note was uploaded on 02/28/2011 for the course BMGT 380 taught by Professor Mark during the Spring '08 term at Maryland.

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Q - RIGHTS OF THIRD PARTIES - ASSIGNMENT • ASSIGNOR...

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