Asked by
Casey Knight
on Nov 27, 2024
Verified
Marlo and Nita enter into a contract for the sale of Marlo's apartment for which Nita agrees to pay $250,000. Nita assigns her right to buy the apartment to Owen. Owen is
A) the obligor.
B) a third party beneficiary.
C) the assignee.
D) the assignor.
Assignee
An individual or entity to whom rights or interests have been transferred through a legal assignment.
Right to Buy
A legal entitlement or option allowing a person to purchase property or stock under specific conditions.
- Become proficient in the principles that influence the delegation of duties and the assignment of rights in agreements.
- Become aware of the entitlements and obligations of assignors, assignees, obligors, and obligees in the setting of contract assignments.
Verified Answer
CK
Learning Objectives
- Become proficient in the principles that influence the delegation of duties and the assignment of rights in agreements.
- Become aware of the entitlements and obligations of assignors, assignees, obligors, and obligees in the setting of contract assignments.