MGMT 644 Lecture Notes - Hope Diamond, Consequential Damages, Equitable Remedy
Document Summary
Assignees: the parties to a traditional contract or e-contract can transfer their rights under the contract to other parties. The party who owes a duty of performance is called the obligor. A party who is owed a right under a contract is called the obligee. An obligee who transfers the right to receive performance is called an assignor. The party whom the right is transferred is called the assignee. The assigne can assign the right to yet another person called a subsequent assignee or sub-assignee. Personal service contracts: a contract between and employee and an employer. The responsibilities of the employee are clearly defined. Employees are not required to agree to the terms of the contract. Counter proposals can occur with a personal services agreement that the employee does not agree to. Sometimes employers don"t hire person unless they agree to terms. Ex: your aunt leaves you money after she dies in a will.
