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

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Presentation on theme: "CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES. Learning Objectives: Contracts for Benefit of Third Parties Assignments:  Rights  Duties Novation Chapter."— Presentation transcript:

1 CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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

3 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

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

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

6 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

7 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

8 CHAPTER 20: CONTRACT RIGHTS OF THIRD PARTIES

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