Carlos Hopes to Start His Own Business

question 5

True/False

Carlos hopes to start his own business. He needs to avoid talking to other small business owners about his plans because they might steal his ideas.

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Definitions:

Assignment

The act of passing on rights, property, or duties from one individual or group to another.

Creditor Beneficiary

A third party who benefits from a contract made between two other parties because one of the primary parties owes a debt to the beneficiary.

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations.

Promisor

The person or party who makes a promise or agrees to perform an action or fulfill an obligation under a contract.