Management and Organizational Studies 2275A/B : Ch 9 Termination and Enforcement of Contracts.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Frederick King

Document Summary

When parties enter into a contract, there are several ways in which it can be brought to an end. Performance when both parties fulfill their contractual obligations: what amounts to termination by performance depends on the nature of the contract. It is permissible to use employees to vicariously perform a contract in question. Novation enter into a who new contract. Substitute a party: transfer of contractual rights a party who wants to end his involvement in a particular contract may have the option to transfer it to someone else. Creditor the person who is now or will be entitled to payment from a contract. Debtor party entitled to make the payment: the advantage of an assignment for a creditor is that he can. Sell rights for cash now and let the assignee worry about collecting for from the other party. Was a matter that neither party had assumed the risk of occurring.