8. Explain the term warranty.
Exercise 2. Find in the text English equivalents to the following:
Правопреемник; лицо, совершающее передачу (вещи, права); лицо, в интересах которого осуществляется доверительная собственность; перевод долга; дарополучатель; новация; цессия прав по обязательству; лицо, принявшее на себя обязательство; должник по обязательству, дебитор; ручательство.
Exercise 3. Consult recommended dictionaries and give words or phrases to the following definitions:
Владение третьего лица; получение от третьего лица; оплата третьим лицом; договор с третьим лицом; произведенная третьим лицом; в качестве третьего лица; противоправные действия третьих лиц.
Exercise 4. Be ready to talk on one of the following topics:
1. Differentiate between the legal rights accorded to intended beneficiaries and those accorded to incidental beneficiaries to a contract.
2. Contrast assignment with delegation.
3. Identify the three parties that are associated with any contractual assignment.
4. Indicate who is responsible for giving notice of an assignment.
5. Explain the obligations of the assignor, the assignee, and the obligor after an assignment has been made.
6. Distinguish between a novation and an assignment in contract law.
Exercise 5. Make up your own dialog on the case: In Beneficial Finance Co. v. Colonial Trading Co., the secured party brought an action in assumpsit against the purchaser of collateral from a defaulting debtor. The court said:
Where a debtor sells collateral subject to a perfected security agreement, the secured party may proceed (1) against the debtor (a) to collect the debt on the original instrument, or (b) to assert his rights under the security agreement against any identifiable proceeds in the hands of the debtor, or (2) against the purchaser (a) by a repossession of the purchased goods in person or by an action in replevin or (b) by an action in trespass for conversion of the collateral. However, once the purchaser has himself resold the goods, the secured party has no right of action in assumpsit against the purchaser, either for the original debt of for the proceeds of resale.
Exercise 6. Resume in industry buzz:
Non-Party Rights (3P Ben'y/Assignmts/Delegation)
1. General:
-> non-party time formed is 3P ben'y; non-party later is assignmt or delegation
-> NON-PARTY RTS ALWAYS DERIVED SO DEFENSES OK
2. 3P Beneficiary (look a promise at a time) (3P ben'y of which promise?) 5 RULES:
