BUSINESS LAW TODAY Essentials 9th Ed Roger LeRoy Miller - Institute for University Studies, Arlington, Texas Gaylord A Jentz - University of Texas at Austin, Emeritus Chapter 10 Contracts: Third Party Rights, Discharge, Breach, and Remedies © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use Learning Objectives  What is the difference between an assignment and a delegation?  What factors indicate that a third party beneficiary is an intended beneficiary?  Under what circumstances is the remedy of rescission and restitution available?  When courts grant specific performance as a remedy?  What is the rationale underlying the doctrine of election of remedies? © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use Assignments An assignment is a transfer of contractual rights to a 3rd party (assignee) © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use Assignments Effect: Assignee has the right to demand performance from the original party (Obligor) to the contract Notice of Assignment Rights That Cannot Be Assigned: Statute Expressly Prohibits Assignment Contract is for Personal Services Assignment will Materially Change Risks or Duties of Obligor When Contract Itself Prohibits Assignment © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use Delegations   Transfer of duties to a 3rd party (Delegatee) by Delegator Delegatee still owes duty to original party in contract, and is still liable for performance © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use ... election of remedies? © 2011 Cengage Learning All Rights Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain... Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected... Reserved May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected