Examlex
What is the major product of the following reaction sequence?
Novation
The act of replacing an obligation to perform with a new obligation, or substituting a new party into an existing contract.
Successive Assignments
The process of transferring rights or duties from one party to another over a series of transactions.
Obligor
The party in a contractual agreement who is bound or obligated to perform a duty or payment to the obligee.
Assignee
A person or entity to whom rights or interests have been transferred by another, usually under the terms of a contract.
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