Marlo and Nita Enter into a Contract for the Sale

question 22

Multiple Choice

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.

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Definitions:

Draw

To produce a picture or diagram by making lines and marks on paper with a pencil, pen, etc., or within the context of games, a result in which opponents finish with equal scores.

Spades

A suit in a standard deck of playing cards, identified by its black, pointed leaf shape symbol.

Dealt

Distributed or administered in a specific manner.

Chances

The likelihood or probability of an event happening, often expressed as a percentage or ratio.