CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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CHAPTER 20 CONTRACT RIGHTS OF THIRD PARTIES
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CHAPTER 20 CONTRACT RIGHTS OF THIRD PARTIES

• Learning Objectives
• Contracts for Benefit of Third
• Parties
• Assignments
• Rights
• Duties
• Novation

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CONTRACTS FOR BENEFIT OF THIRD PARTIES

• Nature of Third-Party Beneficiary Contracts
• Donee-Beneficiary
• Creditor-Beneficiary
• Incidental vs. Intended Beneficiary

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ASSIGNMENTS

• Terminology
• Obligor
• Obligee
• Rights
• Duties
• Assignor
• Assignee

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ASSIGNMENTS

• Terminology
• General Principles
• Role of Consent
• Rule Not needed
• Exceptions
• Code position
• Antiassignment Clauses

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ASSIGNMENTS

• Terminology
• General Principles
• Role of Consent
• Claims for Money
• Rights of Assignee
• Duties of the Parties
• Notice of Assignment

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NOVATION

• Definition Substitute one party for
  anotherthereby creating a new contract.
• Application
• One party dismissed from obligation
• Required All parties consent

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CHAPTER 20 CONTRACT RIGHTS OF THIRD PARTIES