Fox Brothers Enterprises, Inc., agreed to convey to Canfield alot, Lot 23, in a subdivision known as Fox Estates, together with aone-year option to purchase Lot 24. The agreement did not containany prohibitions, restrictions, or limitations against assignments.Canfield paid the price of $20,000 and took title to Lot 23.Thereafter, Canfield assigned his option right in Lot 24 to theScotts. When the Scotts tried to exercise their right to theoption, Fox Brothers refused to convey the property to them. TheScotts then brought a suit for specific performance. Who are theparties to the initial contract? Fox Brothers Enterprises FoxEstates Canfield Scotts What is the contract consideration given bythe Fox Brothers Enterprises? 1. 2. What is the contractconsideration given by Canfield? A contract is a private agreementbetween the parties who enter into it with two exceptions- whichexception potentially applies in this case? What did thisassignment purport to transfer? Who made an assignment of rights?What contract right did this party assign? Does the law presumethat parties may assign rights in a contract? Generally, under thelaw, what rights cannot be assigned? 1. 2. 3. 4. What right wasassigned in this case? Is this a valid assignment? How many partiesare involved in an assignment? Who is the assignor? Who is theassignee? Who is the obligor? Whose rights are extinguished by theassignment? As a result of the assignment, who can now enforce theoption contract? Is it likely the courts will order the FoxBrothers to sell the lot to the Scotts? What if the assignment wasverbal- would it be enforced? Why?