Law Concepts
1. What is the difference between an assignment and a delegation?
The highlighting difference between the two is, that an assignment cannot increase the obligation of other parties while delegation is the method which transfers one party’s obligation over to the other party. If one assigns rights it’s easier in comparison to delegation and it has fewer restrictions in place.
2. What factors indicate that a third party beneficiary is an intended beneficiary?
The presence of one of the following factors will indicate whether the intended party is a beneficiary in actuality or not;
- Performance being rendered directly to third party
- The third party exercises rights to control the performance
- Any form of expressed designation in a contract
3. How are most contracts discharged?
Most contracts are discharged due to the following reasons:
- Performance discharges
- By mutual agreement of parties involved
- Impossibility of performance
- Contracts time duration
- Operation of law
- If the contract is not honoured and breached.
4. What is a contractual condition, and how might a condition affect contractual obligations?
Contractual condition means that the obligated parties have to perform the said duties under the contract, the obligations of the parties are identified by contract conditions. A condition is an event which affects the contractual duties of a party, it is a sort of qualification which is placed on an obligation. There are three different forms of conditions:
- Condition Precedent (before contractual duty)
- Condition Concurrent (during contractual duty)
- Condition Subsequent ( after contractual duty)
