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CHAPTER 11 Contractual Obligations and Their Enforcement

CHAPTER 11 Contractual Obligations and Their Enforcement. 11-1 Transfer and Discharge of Obligations 11-2 Remedies for Breach of Contract 11-3 The Marriage Contract and Divorce. 11-1 Transfer and Discharge of Obligations. GOALS

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CHAPTER 11 Contractual Obligations and Their Enforcement

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  1. CHAPTER 11Contractual Obligations and Their Enforcement 11-1 Transfer and Discharge of Obligations 11-2 Remedies for Breach of Contract 11-3 The Marriage Contract and Divorce

  2. 11-1 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 Chapter 11

  3. FOCUS • Identify a contract you have recently entered into. • What rights have been acquired by the parties? Chapter 11

  4. THE TRANSFER OF CONTRACT RIGHTS AND DUTIES • Assignable rights • Non-assignable rights • Form of assignments • Notice of assignments • Delegation of contractual duties Chapter 11

  5. Under what conditions may you assign contractual rights to another person? Chapter 11

  6. DISCHARGE OF CONTRACTUAL OBLIGATIONS • By performance • Timing of performance • By the initial terms • By subsequent agreement • Rescission • Accord and satisfaction • Novation Chapter 11

  7. DISCHARGE OF CONTRACTUAL OBLIGATIONS (continued) • By impossibility of performance • By operation of law • By tender of performance Chapter 11

  8. Identify the six ways in which contractual obligations can be discharged. Chapter 11

  9. 11-2 Remedies for Breach of Contract GOALS • Name and describe various remedies possible for minor or major breach of contract • Discuss the factors that affect the choice of remedies Chapter 11

  10. FOCUS • Do you agree with the following statement?Let the punishment fit the crime. Chapter 11

  11. REMEDIES POSSIBLE FOR BREACH • Remedy for a minor breach • Remedies for a major breach • Rescission and restitution • Money damages • Specific performance Chapter 11

  12. Explain the remedies available for a major breach of contract. Chapter 11

  13. FACTORS AFFECTING CHOICE OF REMEDY • Conflict of remedies • Duty to mitigate • Waivers • Statute of limitations • Bankruptcy Chapter 11

  14. REMEDIES FOR BREACH OF CONTRACT Chapter 11

  15. What does it mean to “mitigate the damages”? Chapter 11

  16. 11-3 The Marriage Contract and Divorce GOALS • Recognize the contractual elements of premarital and marital relationships • Describe the various ways in which a marriage contract is ended Chapter 11

  17. FOCUS • Do you plan on getting married? Chapter 11

  18. MARRIAGE AND CONTRACTS • Contractual elements of premarital relationships • Statutory requirements • Contractual elements of marital relationships • Marital consortium • Rights and duties of parenthood • Property rights and duties • Common-law marriage Chapter 11

  19. What rights and duties are associated with the marriage contract? Chapter 11

  20. ENDING THE MARRIAGE CONTRACT • By annulment • By divorce • Separation • No-fault divorce • Typical issues in a divorce • Division of property • Child custody and support • Alimony Chapter 11

  21. Name three ways in which a marriage contract is ended. Chapter 11

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