Examlex
What is a functional organization,its advantages and disadvantages? Provide examples of when the functional form may be preferred.
Original Obligor
The party originally obligated to repay a debt or fulfill a contractual obligation before any assignments or transfers of the obligation.
Delegable Duty
A responsibility or duty that can be transferred or assigned from one party to another, often seen in contexts of employment or contractual agreements.
Incidental Beneficiary
A third party who benefits from a contract between two other parties, although the benefit was not the reason the contract was formed.
Donee Beneficiary
A third party who benefits from a contract made between two other parties, particularly where the contract's intent is to gift something to the beneficiary.
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