Asked by Taylor Whitworth on Jun 08, 2024
Verified
The ________ in a third-party beneficiary contract is the party to the contract who owes something to the promisor in exchange for the promise made to the third-party beneficiary.
A) promisee
B) principal
C) assignor
D) assignee
E) delegator
Promisee
In a third-party beneficiary contract, the party to the contract who owes something to the promisor in exchange for the promise made to the third party.
Principal
The initial sum of money that is invested or lent, used as the foundation for calculating interest and returns.
Assignor
An individual or entity that transfers the rights or interests of a contract to another party, known as the assignee.
- Recognize the parties involved in a contract and their respective roles and responsibilities.
Verified Answer
Learning Objectives
- Recognize the parties involved in a contract and their respective roles and responsibilities.
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