Ep. 11: Third-Party Beneficiary Contracts: Enforceability, Rights, and Legal Impact of Assignment, Delegation, and Novation
Description
Exploring the concept of third-party beneficiary contracts, where a contract between two parties aims to benefit a third party who is not a party to the agreement. We'll look at the legal issues surrounding the ability of the third party to enforce the contract, including the intent to benefit the third party and the potential impact on the original contracting parties. We'll also discuss the distinction between intended and incidental beneficiaries, with only intended beneficiaries having the right to enforce the contract. Further, the sources analyse the issue of assignment and delegation of contractual rights and duties, considering how these transfers might affect the original parties' obligations. Finally, we'll examine the concept of novation, where a new party replaces an original party in a contract, potentially releasing the original party from liability.
Sharing knowledge that empowers. Subscribe for weekly insights with Idris Soyinka
United States
