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CHAPTER 19 - Just because you sign away your duties...

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CHAPTER 19: Third-Party Rights to Contracts  A B A agrees to pay B $5 to cut A’s grass A = promisor & promisee  B = promisee & promisor   A and B both have a right’s because they’ve made promises to each other  A & B both have duties because they are obligated to go through with their  promises  o A=obligor/obligee o B=obligee/obligor  You have a rights and a duties to do something      When you want to give your rights away, you saw you want to assign your rights  When you want to give your duties away, you delegate you’re duties 
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Unformatted text preview: Just because you sign away your duties, doesn’t mean it affects your rights (vice-versa) Assignments: • Gratuitous=free • Contractual o Effective delivery- effective delivered evidence of the assignment from assignor to assignee o If you do it, the right is irrevocable o TES: guy has shares of stock and he wants to assign the right to dividends to you. Before he does it, he dies. Is that a revocable or irrevocable? No delivery, no irrevocability...
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