What Does a Borrower Use to Guarantee Repayment of a Loan

question 7

Essay

What does a borrower use to guarantee repayment of a loan?

Differentiate between assignment and delegation of contractual rights and duties.

Recognize the conditions under which contractual obligations can be legally delegated.

Explain the effect of oral assignments and the requirements for their validity.

Understand the role and rights of a third-party beneficiary in contract law.

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Definitions:

Corporate Lobbies

Groups funded by corporations that seek to influence lawmakers and government policy decisions in a direction favorable to their interests.

Pluralist Theory

A theory of politics and policy-making that emphasizes the role of diverse, competing interest groups in shaping public policy.

Public Good

Describes a commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Competing Interests

Situations where different groups or individuals have opposing objectives, often leading to conflict or negotiation.