Business Law: Principles for Today's Commercial Environment 3rd Edition by Marianne Moody Jennings, David Twomey, Marianne Jennings

Exercise 12

Industrial Construction Co. wanted to raise money to construct a canning factory in Wisconsin. Various persons promised to subscribe the needed amount, which they agreed to pay when the construction was completed. The construction company assigned its rights and delegated its duties under the agreement to Johnson, who then built the cannery. Vickers, one of the subscribers, refused to pay the amount that he had subscribed on the ground that the contract could not be assigned. Was he correct