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MBE Contracts. third party contracts, assignment, delegation Questions and Answers 2024
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MBE Contracts. third party contracts, assignment, delegation
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MBE Contracts. third party contracts,assignment, delegation
3P: critical issue - answer Was the third party an intended beneficiary or an incidental
beneficiary?
3P: intended beneficiary - answer has the right to sue on the contract
3P: incidental beneficiary - answer does not have the right to sue on the contract
3P: determining whether intended or incidental - answer Ask whether the initial promisor
and promise intended to convey enforcement rights to the third party in the event of
breach.
3P: creditor beneficiary – answer Promise strikes a deal with the promisor in order to
repay an earlier debt to the third party.
3P: done beneficiary - answer There is no preexisting obligation, but the promise clearly
intends to confer a gift of enforcement on a third party.
3p: rights vest if - answer1) they detrimentally rely on the rights (promissory estoppel);
2) they manifest assent to the contract and/or their rights; or
3) they file a lawsuit to enforce the contract
3p contracts: modification and revocation - answer Not allowed once the 3p's rights vest
3P: bringing an action for breach of contract: must establish - answer1) contract
between A and B
2) "clear or manifest" intent of A and B to benefit 3P
3) breach of contract by A or B
4) damages to 3P as a result of breach
Assignment - answer Transfer of rights under a contract. Almost any right is transferable
*unless* it is specifically prohibited in the contract; materially increases the duty or risk
of the obligor; or materially reduces the obligor's chance of obtaining performance.
If the contract prohibits assignments - answer the assigning party has breached the
contract but the third party can still recover from the grantor
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