Blaw 7 - Third Party Rights

lcarter's version from 2016-05-05 23:20

Section 1

Question Answer
AssignmentTransfer of contractual rights to a third party
DelegationTransfer of contractual duties to a third party
AssignorParty assigning the rights
AssigneeParty receiving the rights
ObligeeParty receiving duties
ObligorPerson obligated to perform duty

Section 2

Question Answer
Rights that can't be assignedStatute prohibition, Contract is personal, Changes risk, Contract prohibits
Duties that can't be delegatedDuties are personal, Performance varies upon party, Contract prohibits delegation
Third party beneficiaryWhen a third party is meant to benefit from a contract
Creditor beneficiaryWhen one party promises another party to pay a debt that party two owes to party three
Donee beneficiaryWhen two parties work on creating a gift for a third party, the third party can sue to enforce the promise
VestedThe third party cannot enforce a contract until their rights have taken effect and can't be taken away
Incidental beneficiaryAn unintended beneficiary from a contract

Section 3

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