Flashcards in Rights and Duties of Third Parties Deck (16):
Only ____________ beneficiaries have contractual rights, not incidental beneficiaries.
What are the two types of beneficiaries?
Creditor beneficiaries and donee beneficiaries.
a person to whom a debt is owed by the promisee.
a person to whom the promisee intends to benefit gratuitously.
Can contractual rights be assigned?
What is the only way of prohibiting an assignment of contractual rights?
you must include a clause which states that "attempts to assign will be void." Prohibiting assigning "the contract" will be construed as barring a delegation of the assignor's duties.
For what is the assignor liable after the obligor and the assignee are in privity?
Nothing. Once an assignment is made, the assignor is completely relieved of his obligations under the contract.
Is a writing required for an assignment?
What are the two types of assignments?
assignments for value; and gratuitous assignments.
Is consideration required for an assignment?
Must the word "assign" be used in an assignment?
Assignment for Value
an assignment done for consideration or taken as security for or payment of a preexisting debt.
Can an assignment for value be revoked?
an assignment not for value which can be revoked.
Can contractual duties be delegated?