Regarding the Assignment of Contract Rights,which of the Following Is

question 96

Multiple Choice

Regarding the assignment of contract rights,which of the following is true?

• A) The party owed a particular right under a contract is called the obligee.
• B) The party who owes the duty of performance is called the obligor.
• C) The party who transfers his right to another is called the assignor.
• D) A,B,and C are true.
• E) A and B only are true.

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Definitions:

Credit Card Companies

Businesses that issue credit cards and facilitate credit transactions between consumers and merchants.

Receivables Businesses

Companies that specialize in managing and collecting accounts receivable on behalf of other businesses.

Trade Receivables

Trade receivables, also known as accounts receivable, are amounts owed to a business by its customers for goods or services delivered on credit.

Sales Transactions

The process of exchanging a product or service for payment, constituting the primary revenue-generating activities of a business.