BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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for claims for damages to personal injuries.
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provided performance will not be materially changed.
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as rights to personal services, especially those skilled in nature.
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as assignments of future wages, as limited by state statutes.
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Detailed explanation-1: -However, in certain cases, these contractual rights and obligations can be transferred to a third party. This is known as the assignment of contract.
Detailed explanation-2: -An assignment involves the transfer by an assignor of some or all of its rights to receive performance under the contract to an assignee. The assignee then receives all the benefits of the assigned rights. The assignment doesn’t eliminate or reduce the assignor’s performance commitments to the nonassigning party.
Detailed explanation-3: -A right cannot be assigned if the assignment will significantly increase or alter the risks to or the duties of the obligor (the party owing performance under the contract).
Detailed explanation-4: -Novating a contract Novation allows both the rights and obligations under contracts to be transferred by one party to a third party.