Question

Question 8 2 pts Paul was recently laid off and is now unable to make payments on his car. His sister, Lisa, offered to take his car and continue to make payments on it. In this transaction, the bank becomes: Assignor Creditor Beneficiary Obligor Donee Beneficiary Question 9 2 pts In a contract if no time of performance is specified, then: The statute of limitations bars any claims for non-timely performance. Parties waive time of performance Reasonable time is implied based on the nature and subject matter of the contract. A party cannot complaint if the contract is not performed within three months. Question 10 2 pts Reilly is starting her own accounting firm and hires Claire, a freelance web designer who specializes In responsive design to build her business' website. Two weeks into the job, Claire finds a full-time position at an advertising company and assigns her contract obligations to Max, a former college friend to complete the work for Reilly. Based on these facts can, Claire assign her design contract to Max? VirtualBox-6.1.4-1.exe

Answer 1

So before answering these questions, we have to look on some of the basic concepts that will be used in the following question, basically, an assignment of contracts occurs only when one party to an existing contract know as the "assignor" gives his contract or we can say when one of the party in a contract gives his contract obligation and other benefits to someone else known as "assignee". so it's a process in which the assignor transfers his rights to the assignee to complete all of his remaining contractual obligations.

(Q8)

As we have already discussed above that, An assignee may be a person, or any other entity who has receives the transfer of property or rights from a contract, and assignee receives the transfer from the assignor, and we can see the same concept here as the paul sister is now continuing to make payment for the car thus here bank will be known as Creditor beneficiary because here the paul sister make a contract to pays paul debt to bank thus bank here is a Creditor beneficiary of the contract between paul and his sister.

Answer - Creditor beneficiary

(Q9)

So if in a contract no time of performance is specified then, in that case, the obligation under the contract has to be performed within a reasonable time and again the reasonable time may vary depending on the various facto, mainly based on the nature of the contract and its other subject matter

Answer - Reasonable time is implied based on the nature and subject matter of the contract

(Q10)

Definitely yes Claire can assign his design contract to the max, as we have already discussed before start answering that an assignor can transfer his rights to the assignee to complete all of his remaining contractual obligations. thus here in this case also claire can easily transfer his right to complete the contractual obligation to the max.