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Understanding Contract Rights of Third Parties

Explore the nature of third-party beneficiary contracts, assignments, and novation in Chapter 20. Learn about rights, duties, and obligations of parties involved, including assignor, assignee, obligor, and obligee. Delve into the nuances of incidental vs. intended beneficiaries and the significance of consent in assignments. Gain insights into anti-assignment clauses and the process of novation.

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Understanding Contract Rights of Third Parties

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  1. CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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

  3. CONTRACTS FOR BENEFIT OF THIRD PARTIES • Nature of Third-Party Beneficiary Contracts • Donee-Beneficiary • Creditor-Beneficiary • Incidental vs. Intended Beneficiary Chapter 20

  4. ASSIGNMENTS • Terminology • Obligor • Obligee • Rights • Duties • Assignor • Assignee Chapter 20

  5. ASSIGNMENTS • Terminology • General Principles • Role of Consent • Rule: Not needed • Exceptions • Code position • Antiassignment Clauses Chapter 20

  6. ASSIGNMENTS • Terminology • General Principles • Role of Consent • Claims for Money • Rights of Assignee • Duties of the Parties • Notice of Assignment Chapter 20

  7. NOVATION • Definition: Substitute one party for another…thereby creating a new contract. • Application • One party dismissed from obligation • Required: All parties consent Chapter 20

  8. CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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