wrong referenced assembly version (using VS 2008)

I just copied an existing project to  new machine to start developing on it
The project originally referenced an older version of the assembly ( v1.0.0.0- My new machine has the latest version( Using MS VS 2008

Plz find the my  web.config code

<assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1">
				<assemblyIdentity name="System.Web.Extensions" publicKeyToken="31bf3856ad364e35"/>
				<bindingRedirect oldVersion="" newVersion=""/></dependentAssembly>
				<assemblyIdentity name="System.Web.Extensions.Design" publicKeyToken="31bf3856ad364e35"/>
				<bindingRedirect oldVersion="" newVersion=""/></dependentAssembly></assemblyBinding></runtime></configuration>

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How to set output path and assembly name properties appropriately explain me in detail i am  new  to .net and all.
prashanth agsoftware engineer Asked:
Who is Participating?
Tushar ParekhIntegration Project of Major Payment Gateways into a Single Payment Gateway Switching SystemCommented:
You can go ahead and execute  gacutil /l  on VS 2008 Command Prompt where the GAC shows all the details of the assembly.


C:\> gactutil /l


Check that you are referencing the right assembly version

STEP 3 :

Check for dependent assemblies and see if they are properly referenced in your local project and the GAC.

This can be checked by Removing the reference from the local project and compiling and checking whether the project
is dependent on that assembly.

STEP 4 :

Check Assembly Info of the DLL by going into Add Reference ... and selecting the right version assembly and Public token. Once you reference it in your local project , two things

1. If Add Reference has included the right assembly it will compile.
2. If it does not compile then you need to Check using Steps 1,2,3 and insert the entry into web.config for the dependant assembly in the assemblies section.

STEP 5 :

Check that you are referencing  in your code using the "using" clause;

I think the above checks will ensure that you are using the right assembly version so that your program can compile.

STEP 6 ;
You can try by downgrading the Framework version, Copying the old assembly into your old project and try compiling it.
It may work as this has been tried and it has worked.
prashanth agsoftware engineer Author Commented:
gacutil is not recognized as an internal or external command, operable program or batch file.
Jacques Bourgeois (James Burger)PresidentCommented:
Use the Command Prompt that is available with the Visual Studio tools in your Windows Startup menu (if you have one) or your Visual Studio tiles group (Windows 8). It is set so that you can call any of the command line tools without having to know where they are on your computer.
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