chapter 11 contractual obligations and their enforcement
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CHAPTER 11 Contractual Obligations and Their Enforcement. 11-1Transfer and Discharge of Obligations 11-2Remedies for Breach of Contract 11-3The Marriage Contract and Divorce. 11-1 Transfer and Discharge of Obligations. GOALS - PowerPoint PPT PresentationTRANSCRIPT
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Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
CHAPTER 11Contractual Obligations and Their Enforcement
11-1 Transfer and Discharge of Obligations
11-2 Remedies for Breach of Contract
11-3 The Marriage Contract and Divorce
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Chapter 11Slide 2
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
11-111-1 Transfer and Discharge of Obligations
GOALS Identify what rights can be assigned
and what duties delegated Describe the various ways in which
contractual obligations may be discharged
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Chapter 11Slide 3
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
Identify a contract you have recently entered into.
What rights have been acquired by the parties?
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Chapter 11Slide 4
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
THE TRANSFER OF CONTRACT RIGHTS AND DUTIES
Assignable rights Non-assignable rights Form of assignments Notice of assignments Delegation of contractual duties
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Chapter 11Slide 5
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Under what conditions may you assign contractual rights to another person?
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Chapter 11Slide 6
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
DISCHARGE OF CONTRACTUAL OBLIGATIONS
By performance Timing of performance
By the initial terms By subsequent agreement
Rescission Accord and satisfaction Novation
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Chapter 11Slide 7
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
DISCHARGE OF CONTRACTUAL OBLIGATIONS
By impossibility of performance By operation of law By tender of performance
(continued)
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Chapter 11Slide 8
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Identify the six ways in which contractual obligations can be discharged.
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Chapter 11Slide 9
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
11-211-2 Remedies for Breach of Contract
GOALS Name and describe various remedies
possible for minor or major breach of contract
Discuss the factors that affect the choice of remedies
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Chapter 11Slide 10
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
Do you agree with the following statement?
Let the punishment fit the crime.
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Chapter 11Slide 11
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
REMEDIES POSSIBLE FOR BREACH
Remedy for a minor breach Remedies for a major breach
Rescission and restitution Money damages Specific performance
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Chapter 11Slide 12
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Explain the remedies available for a major breach of contract.
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Chapter 11Slide 13
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FACTORS AFFECTING CHOICE OF REMEDY
Conflict of remedies Duty to mitigate Waivers Statute of limitations Bankruptcy
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Chapter 11Slide 14
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
REMEDIES FOR BREACH OF CONTRACT
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Chapter 11Slide 15
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
What does it mean to “mitigate the damages”?
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Chapter 11Slide 16
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
11-311-3 The Marriage Contract and Divorce
GOALS Recognize the contractual elements of
premarital and marital relationships Describe the various ways in which a
marriage contract is ended
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Chapter 11Slide 17
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
Do you plan on getting married?
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Chapter 11Slide 18
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
MARRIAGE AND CONTRACTS
Contractual elements of premarital relationships Statutory requirements
Contractual elements of marital relationships Marital consortium Rights and duties of parenthood Property rights and duties
Common-law marriage
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Chapter 11Slide 19
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
What rights and duties are associated with the marriage contract?
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Chapter 11Slide 20
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
ENDING THE MARRIAGE CONTRACT
By annulment By divorce
Separation No-fault divorce
Typical issues in a divorce Division of property Child custody and support Alimony
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Chapter 11Slide 21
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Name three ways in which a marriage contract is ended.