BLAW 3201 Lecture Notes - Lecture 4: Contract, General Contractor, Eric Harris And Dylan Klebold
Document Summary
Promissory note ex: enter into a contract with chris reed, chris will pay me over 36 months of the 20k and interest of 6, 12 months later i now have a child in college. I am the obligee (creditor: who"s the o(cid:271)ligor/(cid:449)ho"s the o(cid:271)ligee, landlord/tenant relationship, landlord has the right to the payment of rent. Has right to enter if emergency: tenant has the right to be there. In both of these situations the third party happens over time due to decision making of the parties. I enter into contract with xyz co: contract to pay /month, upon my death the lic (life insurance co. ) will issue. ,000: then if derick is the beneficiary of the 250,000 upon my death, he had nothing to do with the contract until he finds out, he is third party, this makes it a gratuitous contract.
