Entities That Make Payment on an Obligation or Debt but Are

question 17

Multiple Choice

Entities that make payment on an obligation or debt but are not parties of the contract that created the debt are called

• A) riders.
• B) service benefit plans.
• C) third-party payers.
• D) capitation.

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Definitions:

UCC

Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to standardize regulations across the states.

IRS Form

Official documents issued by the Internal Revenue Service for taxpayers to report financial information, file taxes, or claim deductions.

Delegation

A contracting party’s (a delegator’s) transfer of his or her duty to perform to a third party who is not part of the original contract (a delegatee).

Personal Services

Services provided by individuals based on their unique skills or talents, often involving physical or mental efforts rather than producing goods.