1. 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 11-1 11-1Transfer and Discharge of Obligations 11-2 11-2Remedies for Breach of Contract

2. 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 2 11-1Transfer 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

3. 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

4. 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?     

5. 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

6. 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

7. 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.     