Asked by Carla Reyes on May 04, 2024

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Martin entered into a written contract to sell Anna his football card collection for $10,000,payable in five installments.Martin then orally told Cathy that she could collect the proceeds of his sale.Discuss Cathy's legal rights.

Written Contract

A legally binding agreement between two or more parties that is put in writing and signed by the parties involved.

Installments

Regular partial payments made over a period of time to settle a debt or purchase price, rather than paying the total amount at once.

Proceeds

The total amount of money or assets derived from a transaction or event, often used in the context of sales and financings.

  • Analyze the legal rights of parties in a contract when an assignment of rights or delegation of duties occurs.
  • Evaluate the importance of timely and proper notification of contractual changes to all parties involved.
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Dakota ApplewhiteMay 06, 2024
Final Answer :
While an assignment can be accomplished through written,oral,or implied agreements between the assignor and the assignee,the law requires that if an agreement by the original parties is in writing,the assignment also must be in writing.This rule is called the equal dignities rule.Since Martin and Anna have a written contract,Martin must assign his rights to the contract to Cathy in the written form.Because Martin has assigned his rights to Cathy orally,Cathy has no legal rights to enforce the assignment as per the equal dignities rule.