Task – read and translate the text. Дальнейшие задания базируются на этом тексте.Generally, a contract operates to confer rights and to impose duties only on the parties to the contract. The third parties have no rights and can`t enforce contractual provisions. This contractual relationship is summed up in the term Privity of contract.But there are 2 exceptions – 1. When the original contract provides for rights to be conferred on a third party.2. When contractual rights and duties are transferred to a third party at a later date.When we speak about the first type of the situation, lawyers usually refer to third-party beneficiary contracts. The most common form of this type of contracts is where party A enters into a valid contract with party B ,which stipulates, that party B shall render performance for the benefit of party C., that is the third-party beneficiary. The most important question here is the following - Does a contract express an intent to create a legal enforceable right in the third party?In the second situation, mentioned above, rights and duties are transferred after the original contract has been signed. If in the original contract the transferring party /A/ is owed a right by the non-transferring party /B/ , than A is known as obligee, and B is the obligor. But these roles can be exchanged according to the details of the contract.If the duty is being transferred, A is known as delegator, and the third party C is referred to as the delegate.The term Assignment of contracts can mean several different things. It can mean both the assignment of rights and delegation of duties. However, in the interest of a provision, the term To assign should be reserved specifically for the transfer of rights, and the term To delegate should be used in connection with the transfer of duties.Generally, in order for the obligor to discharge his duties under the contract through assignment, an obligee must first release him from his obligations under the contract. When this takes place, there is a novation of the original contract, in which an obligor`s position is taken on by a new party.
Task 7 - match the legal terms with their definitions: