Third-Party Rights Flashcards
(2 cards)
Third-Party Beneficiaries
Third-Party Beneficiaries
A third-party beneficiary is a person who, although not a party to a contract, stands to benefit from the contract’s perfromance. Contract law distinguishes between incidental beneficiaries and intended beneficiaries. An intended beneficiary is one to whom the parties mean to give an interest that can be protected. One who is not an intended beneficiary is an incidental.
Assignment of Rights and Delegation of Duties
Assignment of Rights and Delegation of Duties
An assignment is a transfer of a right, while a delegation is a transaction whereby someone having an obligation gets someone else to perform it. An assignment of a contract is both an assignment of rights and a delegation of performance.
