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Lecture

THE LAW OF CONTRACT Privity

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Department
Administrative Studies
Course
ADMS 2610
Professor
All Professors
Semester
Summer

Description
T H E L A W O F C O N T R A C T Privity - a person cannot incur liability under a contract to which he or she is not a party - Exceptions : o Prior interests in Land – rights of others who have prior interests in the property o Trusts – trustee vs beneficiary o Constructive trust – gives rights to beneficiary o Promises under seal – if its o the seal o Statutory rights ad liabilities o Tort – if a macbook blows up you can sue apple o Collataral warranty employment o Employment Assignments - Novation – allows one to transfer contractual rights to a third party o Substitution of parties to an agreement OR the replacement of one agreement by another agreement o Consensual amongst the parties o Terminate the original agreement and replace it with another o Most common in debtor/creditor relationship - Assignments o Can only assign rights NOT obligations o Choses in action  Paper document that repr
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