What are the essential elements of a contract list and, Operation Management

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What are the essential elements of a contract list and

1. What are the essential elements of a contract? List and discuss them.

a. Distinguish between an assignment, a delegation, and a third-party beneficiary contract as to the time rights of the third party arise.

b. Identify and define the following terms: assignor and assignee; delegator and delegatee; intended beneficiary, incidental beneficiary, creditor beneficiary.

2. Explain three limitations on monetary damages.

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