Contract Assignment and Delegation

Question 1

Assignment and Delegation of Contract Rights and Duties #1

Answer 1

Every contract creates personal property rights for the parties in the expected performance by the other party

Example: a contract on which payment is due is called an “accounts receivable” and is an intangible asset of the owner.

Question 2

Assignment and Delegation of Contract Rights and Duties #2

Answer 2

“Assignment” of a contract right means that the person entitled to performance (the assignor) redirects that performance to a 3d person (the assignee).

Question 3

Assignment and Delegation of Contract Rights and Duties #3

Answer 3

“Delegation” of a contract duty means that the person obligated to perform shifts that performance requirement to a 3d person.