BBG 231 Lecture Notes - Lecture 3: Contract, Insurance Policy, Fide
6 Jan 2021
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Assignor: person who transfer his contractual right (original party) Assignee: the person to whom the right is transferred. Obligor: party to the contract against whom the right may be exercise (original party) As general rule: one may assign contrautal rights, but may not assign contractual duties. May delegate" contractual duties if they don"t involve personal service or personal attention of obligor: assignment of claim for money: because the right to receive money isn"t personal in nature, it"s generally assignable. English rule: the first bona fide assignee for value to notify the debtor of assignment prevails, regardless of whether he/she is the 1st person to receive the assignment in point of time. American rule: 1st assignee in point of time prevails, regardless of which assignee gives notice first. Phrase assignee stands in the shoes of the assignor. Roles concerning vesting of a 3rd parties rights. 3rd party beneficiary cant sue on contract all types of 3rd party beneficiarys.
