Chapter 19 - 1. 2. 3. 4. 5. Chapter 19: Third Party Rights...

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Chapter 19: Third Party Rights to Contracts 1. Assignment: occurs when a party to a contract- an assignor - transfers her rights to receive something under the contract to a third party- an assignee a. Assignments covered by the statute of frauds must be in writing b. An assignee must agree to accept the assigned rights c. Some contractual rights cannot be assigned c.i. Rights that are personal in nature c.i.1. Promised something specific to the person receiving it c.ii. Rights whose assignment would increase the obligor’s risk or duties c.iii. Rights whose assignment is prohibited by contract c.iii.1. Antiassignment clause c.iv. Rights whose assignment is prohibited by law or public policy 2. Rights and Duties of Assignor a. When an assignment occurs, the assignor legally gives up all the rights they had to collect on the contract b. A person who transfers his or her rights under a third party is an assignor, and the person who receives the transfer and is now entitled to enforce the rights is the assignee. c.
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Chapter 19 - 1. 2. 3. 4. 5. Chapter 19: Third Party Rights...

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