Slide thuyết trình TACN2 Topic: Provisions concerning the Parties

Nguyen Quang Anh 1311110 Tran Van Dat 1311110112 Phan Thi Minh Hang 1311110209 Nguyen Thi Thu Huong 1311110287 Vuong Nhat Quan 1311110568 Provisions Concerning the Parties The Problem What are the risks of doing business with a shadowy counterpart? The Principle -must know exact name and address of the buyer -make sure that there is no change in the identity of the buyer In More Depth The Identity of the Buyer Definition the identity of the buyer is distinct personality or individual characteristics of the buyer which are persisting and help the buyer to be recognized and known Abdul Osman-the aging director of Esperanza nternational corporated My name is Louise GrayCEO of Greatcoats Ldt The Seller The Buyer • Firstly, she didn`t know whether Abdul`s company exists or not • • • Should ask his company`s bank and makes a quick telephone call Should have the Verbena embassy in Esperanza check Should use the service of other organizations • Secondly, she failed to notice that Esperanza International Incorporated is different from Esperanza International & Co • should ask plenty of questions to make sure who will responsible for payment • Thirdly, she didn`t clarify who Abdul really was and if he had the right to sign the contract • • should check the authenticity and authority of a signature The last, her mistake was not asking for a certain amount of prepayment when she did business with a shadowy counterpart • Should convince the buyer to prepay for the goods - The Names in the On the first page of most contracts is the Contract name of each party When it first appears, the name is normally the full, registered name of the company - To avoid endlessly repeating this formula in the contract, a short-form follows the first use of the name Notices Ex: Notices served by one party to the other under the contract are valid only if sent by registered mail and signed Such notices are to be sent to the following addresses: Seller: [Address] Buyer: [Address] Assignment of rights and delegation of duties Involvement of a third party Descriptions Assignment Delegation The transfer of the right to receive Contract Performance The transfer of the obligation to deliver Contract Performance Obligation VS Duty Contract Performance Party possesses OBLIGEE rights  CONTRACT PERFORMANCE Party possesses OBLIGOR duties Ex: In a purchase Payment Buyer Goods Seller Understanding Assignment Party possesses Obligee ASSIGNOR RIGHTS CONTRACT PERFORMANCE Party possesses Obligor DUTIES CT CE A TR AN N M CO FOR R PE The Third ASSIGNEE Party Understanding Delegation Party possesses Obligee RIGHTS CONTRACT PERFORMANCE C PE O N RF TR OR AC MA T NC E The Third DELEGATEE Party Party possesses Obligor DELEGATOR DUTIES Distinction Assignment of rights Delegation of duties An assignment of Rights occurs when one of the original parties (the assignor) of the contract hands off the contract’s benefits to another (the assignee) Delegation of duties occurs when one of the original parties (the delegator) giving another party (the delegate) the responsibility of carrying out the performance General rule: all rights are assignable General rule: not all contract duties are delegable Often no need for the Assignee’s consent Often need for the Delegatee’s consent Assignment of Rights prohibits actperformance Contr -Affect the due assignment   -Decreases the value or return ublic anticipated Violate law or p policy -Increases the risks for the other party Obligor’s be for performance can self only Assignor him Assignment risks or materially alters gor li obligations of Ob Delegation of Duties A task requiring specialized skills or based on the unique characteristics of the promise can not be delegated ibits Contract proh delegation Contract be Performance can ly carried out by on Delegator himself Breaches Which method is unreliable to clarify the identity of the buyer? 1.Make sure that you are signing a contract with the parent company not the subsidiary 2.Try google the name of the company to see if it exist or its name is used correctly 3.Verify if the negotiator has the authority to sign that contract 4.Ask clearly about the exact name and address of the buyer in order to resolve any unexpected problem Which of the following statement is not true? 1.The rights and delegation of duty can be freely transfer without any legal issue 2.The rights can be transfer without causing any risk to the other party 3.Delegation of duty transfer is strictly limit due to most applicable law 4.The assignment of rights and delegation of duty should be carefully included into the contract Notices and communications hereunder shall be deemed made if given by registered or certified envelope, postage prepaid and addressed to the party to receive such notice, invoice, or communication at the address given above, or such other address as may hereafter be designated by notice in writing Thông báo thông tin liên l ạc d ưới s ẽ đ ược coi th ực hi ện gửi phong bì đăng kí ho ặc xác nh ận , b ưu phí tr ả trước gửi đến bên nhận thông báo, hóa đ ơn, ho ặc thông tin liên lạc địa trên, hay địa khác có th ể đ ược ch ỉ đ ịnh b ởi thông báo văn sau Các quyền nghĩa vụ mà hai bên có ủy thác hay chuyển giao toàn phần (bằng cách chuyển nhượng, luật pháp phương thức khác) cho bên thứ ba mà đồng ý trước văn bên The rights and obligatations acquired herein by both parties are not assignable or transferable in whole or in part (by assignment, operation of law or otherwise) to any third party without prior written approval by both parties [...]... one of the original parties (the delegator) giving another party (the delegate) the responsibility of carrying out the performance General rule: all rights are assignable General rule: not all contract duties are delegable Often no need for the Assignee’s consent Often need for the Delegatee’s consent Assignment of Rights prohibits actperformance 4 Contr -Affect the due assignment   -Decreases the value... to clarify the identity of the buyer? 1.Make sure that you are signing a contract with the parent company not the subsidiary 2.Try google the name of the company to see if it exist or its name is used correctly 3.Verify if the negotiator has the authority to sign that contract 4.Ask clearly about the exact name and address of the buyer in order to resolve any unexpected problem Which of the following... PE The Third ASSIGNEE Party Understanding Delegation Party possesses Obligee RIGHTS CONTRACT PERFORMANCE C PE O N RF TR OR AC MA T NC E The Third DELEGATEE Party Party possesses Obligor DELEGATOR DUTIES Distinction Assignment of rights Delegation of duties An assignment of Rights occurs when one of the original parties (the assignor) of the contract hands off the contract’s benefits to another (the. ..  The Amaryllis Docklands and Marbor Supply Company Ltd., a company organized and existing under the laws of the Republic of Verbena, having offices in Port Mary, Verbena, hereinafter called “AMARYLLIS” The Amaryllis Docklands and Marbor Supply Company Ltd., a company organized and existing under the laws of the Republic of Verbena, having offices in Port Mary, Verbena, hereinafter called “SELLER” The. .. Which of the following statement is not true? 1 .The rights and delegation of duty can be freely transfer without any legal issue 2 .The rights can be transfer without causing any risk to the other party 3.Delegation of duty transfer is strictly limit due to most applicable law 4 .The assignment of rights and delegation of duty should be carefully included into the contract Notices and communications hereunder... the value or return ublic anticipated 3 Violate law or p policy -Increases the risks for the other party 2 Obligor’s be for performance can self only Assignor him 1 Assignment risks or materially alters gor li obligations of Ob Delegation of Duties A task requiring specialized skills or based on the unique characteristics of the promise can not be delegated ibits 2 Contract proh delegation 1 Contract... short-forms saves space and reduces the risk of a mistyping If a name appears in different forms in a contract, there can be legal problems 3 Notices Definition: A ‘‘notice’’ is any formal notification required by the contract Notices Ex: Notification that  A government approval has arrived  One party wants to terminate the contract  A deffect needs correction Notices  The notices provision usually... provision usually stipulates how notices must be delivered  The mode of delivery of communications, such as: • By hand • Registered or certified mail • Private courier service • Facsimile Notices Ex: Notices served by one party to the other under the contract are valid only if sent by registered mail and signed Such notices are to be sent to the following addresses: Seller: [Address] Buyer: [Address]... following addresses: Seller: [Address] Buyer: [Address] 4 Assignment of rights and delegation of duties Involvement of a third party Descriptions Assignment Delegation The transfer of the right to receive Contract Performance The transfer of the obligation to deliver Contract Performance Obligation VS Duty Contract Performance Party possesses OBLIGEE rights  CONTRACT PERFORMANCE Party possesses OBLIGOR... khác) cho bất kì bên thứ ba nào mà không có sự đồng ý trước đó bằng văn bản của cả 2 bên The rights and obligatations acquired herein by both parties are not assignable or transferable in whole or in part (by assignment, operation of law or otherwise) to any third party without prior written approval by both parties