Chapter 15 Word Scramble

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Question	Answer
The parties to a contract who have a legal obligation to perform the duties specified in their contract are called what?	Privity of Contract
The transfer of contractual rights its called?	assignment of rights or just assignment
The party who owes a duty of performance is called what?	Obligor
A party who is owed under a contract is called what?	Obligee
An obligee who transfers the rights to receive performance is called what?	Assignor
The party to whom the right of a contract has been transferred is called what?	Assignee
The assignee in a contract rights transfer can again transfer the rights to a person called what?	subsequent assignee or subassignee
When an assignor makes an assignment of a right under a contract, the assignee is under a duty to notify the obligor of what two things?	1) the assignment has been made 2) performance must be rendered to the assignee
If the assignee fails to provide this to the obilgor, the obligor may continue to render performance to the assignor, who no longer has a right to it	notice of assignment
Some contracts contain this that prohibits the assignment of rights under the contract	anti-assignment clause
Some contracts contain a clause that the obligor approve any assignment of a contract. What's this called?	approval clause
Unless otherwise agreed, the parties to a contract can generally transfer the performance of their duties under the contract to other parties. This transfer is called what?	delegation of a duty or just delegation
An obligor who transfers his or her duty is called what?	delegator
The party to whom the duty of a contract is transferred is called what?	delegetee
What are two situations where a duty of contract cannot be transferred?	1) Personal service contracts calling for the exercise of personal skills, discretion, or expertise 2) Contracts whose performance would materially vary if the obligor's duties were delegated.
Sometimes a contract contains this that allows the obligee to sue the delegatee and recover damages.	Assumption of duties
This clause in a contract indicates that duties cannot be delegated.	Anti-delegation clause
This occrus when there is both a transfer of rights and duties under a contract.	assignment and delegation
When parties enter into a contract, they can agree that the performance of one of the parties should be rendered to or directly benefit a third party	intended third-party beneficiary
This is a contract when a person enters into it with the intent to confer a benefit or gift on an intended third party this is called what?	donee beneficiary contract
This is the contracting party who directs that the benefit be conferred on another.	Promisee
This is the person who agrees to confer performance for the benefit of the third person.	promisor
This person is the third party in a donee beneficiary contract to whom the benefit is to be conferred.	Donee Beneficiary
This is a contract where a third party buys the debt from another obligee, and promises the obligor to pay the original obligee the amount owed.	creditor beneficiary contract
In a creditor beneficiary contract the original creditor is referred to as what?	creditor beneficiary
This is when the parties to a contract unintentionally benefit a third party when a contract is performed. The third party is called what?	incidental beneficiary
This is an unconditional promise to perform in a contract.	Covenant
This type of contractual promise is not as definite as a covenant.	Conditional Promise
In a conditional promise contract, the promisor's duty to perform or not perform arises only if the condition does or does not occur.	Condition
If a contract requires the occurrence (or nonoccurence) of an event before a party is obligated to peform a contractual duty, this is called what?	condition precedent
This is a subjective test that applies if the performance involves personal taste and comfort (e.g., contracts for interior decorating, contracts for tailoring clothes)	personal sanctification test
This is an objective test that is used to judge contracts involving mechanical fitness and most commercial contracts.	reasonable person test
This exists when there is a condition in a contract which provides that the occurrence or nonoccurrence of a specific event automatically excuses the performance of an existing duty to perform.	Condition Subsequent
This arises when the parties to a contract agree to render performance simultaneously.	Concurrent conditions
This condition arises if the parties expressly agree on it.	Express condition
This is a condition that can be implied from the circumstances surrounding an contract and the parties conduct.	implied-in-fact-condition
This is when parties of a contract decide to rid themselves of their duties.	discharge
this requires parties to enter into a second agreement that expressly terminates the first one.	Mutual rescission
The contract that revokes and discharges an existing contract is called what?	substituted contract
This agreement substitutes a third party for one of the original contracting parties.	Novation agreement
This is an agreement whereby the parties agree to accept something different in satisfaction of the original contract.	accord and satisfaction
this occurs if a contract becomes impossible to perform.	impossibility of performance or objective impossibility
The parties may agree in a contract that certain events will excuse nonperformance of the contract. These are called what?	force majeure clauses
this excuses performance if an unforeseeable event makes it impractical for the promisor to perform.	commercial impracticability
When a debtor is relieved of legal liability to pay debts under bankruptcy.	discharge

Created by: rogue2281