The inclusion of a phrase in a contract permitting "the assignment of all rights" will not, by itself, be
presumed by most courts to include a delegation of all duties.
Third parties have no rights to contracts to which they are not a party, even if the contracting parties
made the contract with the intent to benefit a third party.
A creditor beneficiary is entitled to sue the promisor directly to enforce his or her promise.
The terms "creditor beneficiary" and "donee beneficiary" are synonymous with the terms "intended
beneficiary" and "incidental beneficiary," respectively.
A donee beneficiary is never entitled to enforce the promise of a promisor.
A creditor beneficiary has the power to sue the promisee if the contract is breached.
The vesting of contractual rights in a third party will not prevent the original parties to the contract
from modifying the contract as long as the contract expressly reserves their right to do so.
If a contract expressly reserves to the contracting parties the right to cancel, rescind, or modify the
contract, then the rights of the third party beneficiary are subject to any changes made by the contracting
The fact that a contract does not require that performance be rendered directly to a third party will
make it very likely that the third party will be considered an intended beneficiary.
If a contract benefits a third party beneficiary incidentally, then the third party will have the power to
enforce the contract.
Most contracts are discharged by operation of law.
A promise to perform subject to being able to obtain financing is an example of a condition precedent.
A promise to pay in exchange for a promise of performance becomes an absolute duty when the
agreement is formed.
Complete performance occurs when conditions in a contract fully occur in all aspects.