Match each of the numbered definitions with the correct term in the following list. Write the letter of your choice in the answer column.
a. Assignee
b. Assignment
c. Assignor
d. Bankrupt
e. Delegation
f. Guarantor
g. Incidental beneficiary
h. Novation
i. Personal-service contract
j. Third-party beneficiary
1. A significant change in a contract that is made with the mutual consent of all parties. 1. __________
2. The transfer of duties to a third party by a party to a contract. 2. __________
3. A party who would benefit from the performance of a contract, but for whom the contract is not created. 3. __________
4. An outside party for whose benefit a contract is made by other parties. 4. __________
5. A party to a contract who transfers his or her rights to a third party. 5. __________
6. A contract in which services that require a unique skill, talent, ability, or the like are provided by a specific person. 6. __________
7. The state of a person or firm recognized to be unable to pay obligations. 7. __________
8. An outside party to whom contract rights are transferred. 8. __________
9. The transfer of contract rights by one of the parties. 9. __________
10. An assignor who guarantees or stands behind an assignment. 10. __________

  • CreatedOctober 01, 2015
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