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Which of the Following Statements Is True

question 35

Multiple Choice

Which of the following statements is true?


Definitions:

Creditor Beneficiary

A third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the beneficiary.

Donee Beneficiary

A third party who stands to benefit from a contract, especially when the contract is intended as a gift to that third party.

Assignor

An individual or entity that transfers rights or interests in a contract to another, known as the assignee.

Assignee

A person or entity to whom rights or interests are transferred by another, known as the assignor.

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