Transfer of Contracts & Novation

The video tutorial explains the rights and obligations in contracts, focusing on the assignment of these rights and duties. It covers the roles of assignor and assignee, the necessity of notifying the obligor, and the types of contracts that cannot be assigned, such as those requiring specific skills or supply contracts. The tutorial also discusses the liability of the assignor if the assignee fails to perform and introduces the concept of novation, which involves creating a new contract to relieve the original party of liability.

What new insight or understanding did you gain from this video?

Evaluate responses using AI:

OFF