MindTap CH15 Third Party Rights

The transfer of contract rights to a third person is known as a(n): a. assignment. b. delegation. c. obligor. d. obligee.

a. assignment.

The transfer of contractual duties to someone else is known as: a. delegation. b. assignment. c. revitalization. d. differentiation.

a. delegation.

What rights can be assigned? a. Only rights to receive monetary damages b. All rights, with a few exceptions c. Only rights to receive negotiable instruments d. No rights can be assigned; only duties can be assigned.

b. All rights, with a few exceptions

A non-party to a contract who has rights in a contract is known as a: a. delegator. b. third party beneficiary. c. assignee. d. assignor.

b. third party beneficiary.

The person to whom rights in a contract are assigned is called the: a. assignor. b. obligator. c. assignee. d. obligor.

c. assignee.

When contractual rights are transferred in an assignment, the assignee should: a. tell the assignor what has happened. b. give the obligor a large sum of money. c. notify the obligor of the assignment. d. do nothing.

c. notify the obligor of the assignment.

An intended third party beneficiary cannot enforce a contract against the original parties until the rights of the third party have: a. originated. b. delegated. c. vested. d. transferred.

c. vested.

What duties can be delegated? a. Only duties to make monetary payments b. Only duties for which the contract expressly allows delegation c. No duties can be delegated; only rights can be delegated. d. All duties, with a few exceptions

d. All duties, with a few exceptions

A party who receives unintentional benefit from a contract between two parties is called a(n): a. assignee. b. third party beneficiary. c. obligee. d. incidental beneficiary.

d. incidental beneficiary.

An assignment cannot be made for rights to receive: a. payments for an educational loan. b. mortgage payments. c. payments for a loan for a car. d. personal services.

d. personal services.