§ 22-503. Transfer of contractual interest
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 22-503
§ 22-503. Transfer of contractual interest
The following rules apply to a transfer of a contractual interest:
(B) Except as otherwise provided in paragraph (3) of this subsection, would materially change the duty of the other party, materially increase the burden or risk imposed on the other party, or materially impair the other party's property or its likelihood or expectation of obtaining return performance.
(2) Except as otherwise provided in paragraph (3) of this subsection and § 22-508(a)(1)(B) of this subtitle, a term prohibiting transfer of a party's contractual interest is enforceable, and a transfer made in violation of that term is a breach of contract and is ineffective to create contractual rights in the transferee against the nontransferring party, except to the extent that:
Credits
Added by Acts 2000, c. 11, § 1, eff. Oct. 1, 2000. Amended by Acts 2000, c. 61, § 6, eff. April 25, 2000.
MD Code, Commercial Law, § 22-503, MD COML § 22-503
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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