BLAW 3201 Chapter : Fall 2016 BLAW Chapter 16 And 17 Notes Review For Final
Document Summary
After an assignment, only the assignee has a right to the obligor"s performance: delegation of duties- a transfer to a third party of a contractual obligation. Requirements of an assignment: no special for or particular words are necessary to create an assignment. Nonetheless, giving such notice is advisable because an assignee will lose his rights against an obligor who pays the assignor without notice of the assignment. In general there are 4 kinds of discharge: performance by the parties, material breach by one or both of the parties, agreement of the parties, operation of law. Conditions: condition- an event whose happening or nonhappening affects a duty of performance under a contract, conditions may be classified by how they are imposed: express condition. Ways conditions may be imposed: express condition- a condition explicitly set forth in language, the basic rule applied to express conditions is that they must be fully and literally performed before the conditional duty to perform arises.
