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Assignment
All rights are assignable
The effects of an assignment
The third party has the right to demand performance from another party
Example
Borrower takes out a loan
The creditor may assign the right to payment to another
Exceptions:
1. Contract that is made in personal nature.
2.If the contract prohibits the assignment.
3. If an assignment will result in a material increase of obligation to the obligor.
4.Where the statutes prohibit the assignment.
Delegation of Duties
All duties may be delegated
Exceptions
Contracts that are made personal in nature
If the contract prohibits the delegation
If the performance will vary from the obligee
Types of Intended Beneficiaries
Contract Beneficiary
Contract made to distinguish a debt to a third party. Creditor Beneficiary has the right to enforce the contract.
Donee Beneficiary
Contract created to make a gift to the third party
Types of Unintended Beneficiaries (No Rights)
Unintended beneficiaries
Incidental beneficiaries one who benefits from a third party, but is not the intended beneficiary. They have no rights under the contract.
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