46 ) . SELECT THE ANSWER THAT IS MOST ACCURATE WITH RESPECT TO TERMINOLOGY USED IN ASSIGNMENT CIRCUMSTANCES ( A ) IN A BILATERAL CONTRACT EACH PARTY IS AN OBLIGOR ( WHO IS ENTITLED TO RECEIVE PERFORMANCE OF ANOTHER ) AND AN OBLIGER WHO HAS AN OBLIGATION TO PERFORM ) ( B ) AN OBLIGEE DELEGATES RIGHTS , AND AN OBLIGOR DELEGATES DUTIES ( C ) THE TERM ASSIGNMENT MAY MEAN A TRANSFER OF A CONTRACTUAL RIGHT , OR IT MAY MEAN A TRANSFER OF BOTH RIGHTS AND DUTIES ( D ) THE PERSON MAKING THE TRANSFER IS CALLED THE ASSIGNEE , AND THE ONE RECEIVING THE TRANSFER IS CALLED THE ASSIGNOR 47) . IF A CONTRACT IS DRAWN UP THAT INDICATES THAT THE PROMISES MADE BY THE PARTIES ARE NOT TO BE PERFORMED UNTIL A SPECIFIED EVENT TAKES PLACE , THAT EVENT IS CALLED ( A ) A CONDITION . SUBSEQUENT ( B ) AN EXPRESS QUALIFICATION ( C ) A CONDITION PRECEDENT ( D ) NONE OF THE ABOVE 48 ) . IF A CONTRACT CONTAINS EITHER AN EXPRESS OR IMPLIED CONDITION SUBSEQUENT AND IF THE SPECIFIED CONDITION THEREAFTER DOES OCCUR THIS MEANS THAT BOTH PARTIES , ( A ) MUST NOW GO AHEAD AND PERFORM THEIR OBLIGATIONS ( B ) ARE NOW FREED OF THEIR OBLIGATIONS UNDER THE CONTRACT ( C ) ARE NOW FREED OF THEIR OBLIGATIONS IF - AND ONLY IF THEY MUTUALLY AGREE TO CANCEL THE CONTRACT 49 ) . CONDITIONS ARE VERY IMPORTANT IN DETERMINING WHEN A CONTRACTING PARTY'S PERFORMANCE IS . TYPES OF CONDITIONS INCLUDE ALL OF THE FOLLOWING EXCEPT ( A ) CONDITIONS PRECEDENT ( B ) CONDITIONS RELEVANT ( C ) CONDITIONS CONCURRENT ( D ) CONDITIONS SUBSEQUENT