Legal Definitions - particular successor

A particular successor refers to an individual or entity that acquires specific rights, assets, or obligations from another party, rather than inheriting or taking over all of their legal interests. This transfer is limited to certain identified items or responsibilities, distinguishing it from a "universal successor" who takes on all of a predecessor's legal position.

Here are some examples to illustrate this concept:

• Example 1: Business Asset Sale

  A large manufacturing corporation, "Global Motors," decides to sell its specialized truck engine division, including all related patents, manufacturing equipment, and existing supply contracts, to a smaller company, "PowerTrain Solutions." Global Motors continues to operate its car manufacturing and other divisions.

  Explanation: PowerTrain Solutions is a particular successor to Global Motors because it only acquired the specific assets and contractual rights associated with the truck engine division. It did not take over Global Motors' entire business, all its liabilities, or its other operational divisions.

• Example 2: Real Estate Inheritance

  Upon the death of a landowner, their will stipulates that their rural farm property, including its associated water rights, is to be bequeathed solely to their nephew, David. The rest of the landowner's estate, including their urban home and financial investments, is distributed among other beneficiaries.

  Explanation: David is a particular successor because he inherits only the specific farm property and its associated rights. His succession is limited to that particular asset, rather than the entirety of the deceased's estate.

• Example 3: Contractual Assignment

  A software development firm, "CodeCrafters," has a contract with a client to develop a new mobile application. CodeCrafters then assigns its right to receive the final payment for the completed application to a factoring company, "InvoiceAdvance," in exchange for immediate cash. CodeCrafters remains responsible for delivering the application to the client.

  Explanation: InvoiceAdvance is a particular successor to CodeCrafters regarding the right to receive the specific payment. The factoring company acquired only this particular contractual right, not all of CodeCrafters' obligations under the development contract or its other business interests.