LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. CHAPTER 11 Contractual Obligations and Their Enforcement Transfer and Discharge of Obligations Remedies for Breach of Contract

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE Transfer and Discharge of Obligations  GOALS  Identify what rights can be assigned and what duties delegated  Describe the various ways in which contractual obligations may be discharged

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE 3 THE TRANSFER OF CONTRACT RIGHTS AND DUTIES  Assignable rights  Non-assignable rights  Form of assignments  Notice of assignments  Delegation of contractual duties

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE 4 CHECKPOINT Under what conditions may you assign contractual rights to another person?     

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE 5 DISCHARGE OF CONTRACTUAL OBLIGATIONS  By performance  Timing of performance  By the initial terms  By subsequent agreement  Rescission  Substitution  Accord and satisfaction  Novation Continued on the next slide

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE 6 DISCHARGE OF CONTRACTUAL OBLIGATIONS  By impossibility of performance  By operation of law  By tender of performance

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 11 SLIDE 7 CHECKPOINT  Identify the six ways in which contractual obligations can be discharged.     