BLBU 2234 Chapter Notes - Chapter 16: Implied Warranty, Contract, Life Insurance
29 Nov 2018
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Rights that are assignable: most contract rights are assignable. Rights that are not assignable: rights that materially change obligator"s duty/materially increase risk/burden upon obligator, highly personal contract rights, rights validly prohibited by contract, rights prohibited by statute/public policy. Implied warranty: obligation imposed by law upon transfer of property/contract rights. Express warranties of assignor: express warranty: explicitly made contractual promise regarding property/contract rights transferred. Successive assignments of the same right: 1st assignee in point of time prevails over subsequent assignees. Delegation of duties: delegation of duties: transfer of contractual obligation(s) to 3rd party. Delegable duties: contractual duties generally delegable, delegation not allowed if nature of duties is personal in that oblige has substantial interest in having delegator perform contract, performance is expressly made nondelegable & delegation is prohibited by statute/public policy. Third-party beneficiary contracts: 3rd-party beneficiary contract: contract in which promisor promises to render certain performance not to promise, but to beneficiary.
