Contract Misses

Question 1

Novation

Answer 1

A novation will be found when there is :
(i) a previous valid contract;
(ii) an agreement among the parties, including the new party to the new contract;
(iii) the immediate extinguishment of contractual duties as between the original contracting parties; and
(iv) a valid and enforceable new contract.

Question 2

Delegation of Duties

Answer 2

Delegate assumes the duties and becomes liable for those duties by promising to perform.

Delegator is secondarily liable as a surety for performance.

Question 3

Incidental 3rd party beneficiaries

Answer 3

NO contract rights, ONLY intended bens do

Question 4

Assignment of Contract

Answer 4

Party must manifest intent to transfer rights to assignee

Oral assignments generally effective

Most rights can be assigned EXCEPT where:

1. The contract forbids it
2. It is forbidden by law
3. it would substantially change duty or risk
4. for personal services if the service so involves the personality or personal characteristics of the obligor that it would be unfair to require performance for 3rd party