ACTG 1P71 Lecture Notes - Lecture 9: Liquidated Damages
15 Apr 2018
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1. assignment a owes b 10,000, b owe c 6,000 , b assigns c 6000 of his receivable from a. this is what we called partial assignment. A owe b 100,000, b wants to borrow 80,000 from c, assign his receivable from a to c as security for the debt. ----this is a conditional assignment ( in case sth may happen, in this case b not payback c, c will take the receivable) The court want to hear from everybody, want they all be there. 5. all parties get notes( all parties need to know what is going on) a owe b 5000, b assigns the receivable to c. when c tries to collect from a , a says i already paid. 250. ------this is why note is important. ----this example is completed assignment, unconditional: contract a promise that a court will enforce reasonable expectation is very important. A promise give b a car for free, if a not do it.
