Exam 12: Transfer of Contract Rights and Duties

Long executed the following legal document and gave it to George Northman: "In consideration for the $300 I owe to George Northman, I hereby transfer to George Northman a claim I have against Hall in the amount of $300. Thomas Long, March 21, 1990." Hall was properly notified of the assignment by Northman. If Hall does not pay the $300 when it is due, the debt would then be

Atkins sold Goldon a computer; the price was $1,200, due on March 7. Atkins assigned the debt to Fisher, to whom she (Atkins) owed $1,200. Fisher properly notified Goldon of the assignment. On March 7, Goldon notified Fisher that she could not pay the money because of financial difficulties. In this case, Fisher has a legal right to collect the $1,200 from

Is it true with the assignment of a personal right that all parties involved must agree to the transfer? If so, why?

After being notified of an assignment, the obligor must perform for the assignee.

Full performance before being notified of an assignment releases the obligor from any legal obligation to the assignee.

A contract is not assignable if

Glocker assigned to Baines her right to collect $500 from Palmer. Palmer, who was not notified of the assignment, paid the $500 to Glocker. Can Baines collect the $500 from Palmer?

An assignment involving real property

Hopper hired a prominent trial attorney to represent her in a lawsuit. On the day of the trial, Hopper found that she was represented by the attorney's assistant. What are Hopper's rights?

If a contract is required to be in writing, an assignment of that contract must also be in writing.

Why is it advisable to give notice once a valid assignment of rights has been made?

An assignment must always be in writing.

When a person dies, her or his rights and obligations are transferred ____________________ to an executor or administrator.

Conrad, an accountant, who performed tax services for Glenn, a small business owner, earned a $5,000 fee over a three-month period. Conrad then assigned this fee to her bank to apply toward a loan. Based on this information, which of the following statements is correct?

____________________ before notification of an assignment releases the obligor from any obligation to the assignee.

Which statement is correct regarding the transfer of contractual rights?

Of the following, those that are assignable are

In a contract requiring the repayment of money, the borrower is known as the

An assignment has no effect until the obligor is notified.

One who transfers rights under a contract is