Examlex
Match each definition to the corresponding term.
-_____ are people or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior.
Promisor
In a third-party beneficiary contract, the party to the contract who made the promise that benefits the third party.
Promisee
The person to whom a promise is made or who will benefit from the fulfillment of the promise in a contractual agreement.
Novation
The act of replacing one party or obligation in a contract with another, requiring the agreement of all parties involved.
Assignment
The transfer of rights, property, or obligations from one party to another, a common practice in contracts and financial transactions.
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