Management and Organizational Studies 2275A/B Chapter Notes - Chapter 9: Novation, Fundamental Breach, Punitive Damages

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

It is permissible to use employees to vicariously perform a contract unless otherwise stated: vicarious performance performance of contractual obligations through others. Parties may respond to a unfavourable agreement by: entering into a whole new contract (novation, varying certain terms of the contract, ending the contract, substitute a party. Assignment the transfer of a right by an assignor (creditor) to an assignee. Only those who are parties to a contract can enforce the rights and obligations it contains. In certain jurisdictions (saskatchewan) consumer protection legislation provides that a lack of privity is no defence to an action brought under the act for breach of warranty brought against a manufacturer (ex) Insurance legislation permits beneficiary under a life insurance contract to sure the insurer even though they are not part of the contract. Virtually every breach gives the innocent party a right to a remedy to be determined whether the breached term is a condition or a warranty.