What is assignment?

a. When a party to a contract transfers her rights to receive something under the contract to a third party.

b. When two parties enter into a contract to benefit a third party, called the intended beneficiary.

c. When a party to a contract transfers her duty to perform to a third party who is not part of the original contract.

Question

Business

Malcolm Fernandez

1 January, 19:40

What is assignment?

a. When a party to a contract transfers her rights to receive something under the contract to a third party.

b. When two parties enter into a contract to benefit a third party, called the intended beneficiary.

c. When a party to a contract transfers her duty to perform to a third party who is not part of the original contract.

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Answers (1)

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Malachi Ali · Answer 1

Answer: The closest option is A. The rights to receive are transferred by the assignor to the assignee.

Explanation: An assignment is a term used in the area of the law of contract and of property and assets. In the legal field, assignment is the process whereby a person or a group (the assignor) transfers his/her rights or benefits to an asset or property to another person or group (the assignee).

The whole process is documented and sealed by the signature of both parties in the presence of their lawyer.