Match each of the numbered definitions with the correct term in the following list. Write the letter
Question:
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. __________
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