3rd party rights in Contracts

3rd party rights in Contracts - 3rd party rights in...

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

View Full Document Right Arrow Icon
3 rd party rights in Contracts Contracts often involve a 3 rd party Obligors-who agreed to do something for the other party Obliges-who agree to receive something While entering a contract you have rights and duties The right to receive money can always be assigned Ex) I have contracted to have my house painted, I live in a split-level house. I assign the right to have my house painted to a 3 rd party who lives in a 4 bedroom house. It becomes slightly dangerous for a painter to paint at a higher level. And you can’t assign the right. You can’t assign a right that is for personal use. Ex) I have a live in babysitter who agrees to live with us. I attempt to assign her to my neighbor’s children who are awful and unpleasant. I can’t assign her to that because it is personal in nature because it is my neighbor under a 3 rd party is an assignor and the person who receives the transfer and is now entitled to enforce the rights is the assignee Rights that cannot be assigned Rights that are personal in nature Rights whose assignment would increase the obligor’s risk or duties Rights whose assignment is prohibited by contract Rights whose assignment is prohibited by law or public policy The assignee should always give notice to the obligor as soon as possible after receiving the assignment, because the obligor may satisfy his/her obligations by performing for the
Background image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

3rd party rights in Contracts - 3rd party rights in...

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