Who Should Provide a Notice of Assignment to the Obligor

question 27

Multiple Choice

Who should provide a notice of assignment to the obligor?

• A) an assignee
• B) an assignor
• C) an obligee
• D) a facilitator

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Definitions:

Expressed Agency

An agency relationship clearly stated in oral or written terms.

Agency

A relationship between two parties in which one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.

Agreement

One of the four elements necessary for a contract; consists of an offer made by one party, the offeror, and the acceptance of the offer by another party, the offeree.

Agent

Describes a person or entity authorized to act on behalf of another, known as the principal, in dealings with third parties.