CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES. Learning Objectives: Contracts for Benefit of Third Parties Assignments:  Rights  Duties Novation Chapter.

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CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

Learning Objectives: Contracts for Benefit of Third Parties Assignments:  Rights  Duties Novation Chapter 202 CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

1.Nature of Third-Party Beneficiary Contracts a.Donee-Beneficiary b.Creditor-Beneficiary 2.Incidental vs. Intended Beneficiary Chapter 203 CONTRACTS FOR BENEFIT OF THIRD PARTIES

1.Terminology a.Obligor b.Obligee c.Rights d.Duties e.Assignor f.Assignee Chapter 204 ASSIGNMENTS

1.Terminology 2.General Principles 3.Role of Consent a.Rule: Not needed b.Exceptions c.Code position d.Antiassignment Clauses Chapter 205 ASSIGNMENTS

1.Terminology 2.General Principles 3.Role of Consent 4.Claims for Money 5.Rights of Assignee 6.Duties of the Parties 7.Notice of Assignment Chapter 206 ASSIGNMENTS

1.Definition: Substitute one party for another…thereby creating a new contract. 2.Application a.One party dismissed from obligation b.Required: All parties consent Chapter 207 NOVATION

CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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