17

Question 1

“transfer of right; is generally used in connection with personal property rights, as rights under a contract, commercial paper, an insurance policy, a mortgage, or a lease.(Parties—assignor, assignee.)”

Answer 1

Assignment

Question 2

“substitution for an old contract with a new one that either replaces an existing obligation with a new obligation or replaces an original party with a new party.”

Answer 2

Novation

Question 3

Transfer of duties by a contracting party to an other person who is to perform them

Answer 3

Delegation of Duties

Question 4

Delegation

Answer 4

transfer to another of the right and power to do an act

Question 5

implied warranty

Answer 5

was not written but implied by law

Question 6

Limitations to Assignment of Right of Money

Answer 6

No Limititation

Question 7

Lim of Assignment of right to perform

Answer 7

No increased Burden, Personal services, credit transfers

Question 8

Lim of Delegation of Duties

Answer 8

no Personal or non standardised performance

Question 9

Right to damages or other Judicial Relief when a largely protected right of the plaintiffs is violated by an unlawful act of the defendant

Answer 9

Cause of Action

Question 10

Claim

Answer 10

Right to Payment

Question 11

Assignee

Answer 11

Third party to whom the contract benefits are transfered

Question 12

assignor

Answer 12

party who assigns contract rights to a third party

Question 13

debtor

Answer 13

buyer on credit, barrower

Question 14

Obligor

Answer 14

Promisor

Question 15

The obligation of law imposed on a person to perform or refrain from performing an act

Answer 15

Duty

Question 16

Right

Answer 16

Legal capacity to require another to perform or refrain from an acrion

Question 17

Types of Third-Party Beneficiaries

Answer 17

1. Creditor
2. Donee
3. Incedental- not true TPB sue under negligence

Question 18

The assignee takes the contract (rights) subject to claims, defenses, and setoff goods against the assignor

Answer 18

Assignment

Question 19

Assignor remains liable on the assigned claim unless released by the assignee, or until the contract is completely and properly executed

Answer 19

Assignors Continued Liability

Question 20

Non-Assignable Rights

Answer 20

1. Where the assignment is prohibited by the contract.
2. where the assignment would increase the burden of performance.
3. where the right is to receive personal services
4. credit transaction

Question 21

Non-delegable Duties

Answer 21

personal or non-standardized performance

Question 22

T/F Ucc encourages the free assignment of the rights to receive.

Answer 22

True