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Definition
| contractual parties who agreed to do something for the other party |
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| contractual parties who agreed to receive something from the other party |
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Term
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Definition
| occurs when a party to a contract (assignor)transfers her rights to a contract (assignee) to a third party; assignor gives to an assignee the right to collect what was contractually agreed on in the first contract |
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Term
| first assignment in time rule |
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Definition
| states that the first party granted the assignment is the party correctly entitled to the contractual right |
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Term
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Definition
| states that the first assignee to give notice of assignment to the obligor is the party with rights to the contract |
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Definition
| occurs when a party to a contract transfers her duty to perform to a third party who is not part of the original contract |
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Definition
| created when two parties enter into a contract with the intended end purpose of benefiting a third party |
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Definition
| third party to a contract whom the contracting parties intended to benefit directly from their contract |
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Term
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Definition
| party to the contract who made the promise that benefits the third party |
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Definition
| party to the contract who owes something to the promisor in exchange for the promise made to the third party beneficiary |
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Definition
| third party that benefits from a contract in which the promisor agrees to pay the promisee's debt |
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Term
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Definition
| third parties who benefit from a contract in which a promisor agrees to give a gift to the third party |
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Term
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Definition
| maturing of rights such that a party can legally act on the rights |
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Term
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Definition
| one who unintentionally gains a benefit from a contract between other parties |
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