11-4_notes - o He pays them and they perform • You can...

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11/4/10 BLAW 3391 Assignment of rights Manufacturer sells goods to a retailer and the retailer pays them money Manufacture is Accounts Receivable and retailer is accounts payable Can’t assign a future paycheck Delegation of duties Owner wants to build an office on a property. General Contractor either accepts or declines his offer. If accepted, the owner pays the contractor and the contractor builds the building. The contractor has a bunch of sub contractors who does his work for him.
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Unformatted text preview: o He pays them and they perform • You can delegate duties, but you cannot delegate your responsibilities. The only exception is if you enter into a Novation: (3 party agreement whereby the 3 rd party is substituted for one of the original parties in the contract) Intended • Donee – Will or inheritance • Creditor – Not a part of the contract, right place at the right time and receives benefit Incidental •...
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