Assignee
A person to whom an assignment is made. (p. 276)
Assignment
The transfer of a contract right from one person to another. (p. 275)
Assignor
A person who assigns rights or delegates duties under an assignment. (p. 276)
Beneficiary
A third party receiving benefits from a contract made between two other parties. Also, the person named in an insurance policy to receive benefits paid by the insurer in event of a claim. (p. 273)
Creditor beneficiary
A third party to whom one or both contracting parties owe a continuing debt of obligation arising from a contract. (p. 273)
Delegation
The transfer of a contractual duty. (p. 275)
Donee beneficiary
A third party who provides no consideration for the benefits received and who owes the contracting parties no legal duty. (p. 274)
Fraudulent conveyance
A transfer of property with the intent to defraud creditors. (p. 277)
Incidental beneficiary
A third party for whose benefit a contract was not made but who would substantially benefit if the agreement were performed according to its terms and conditions. (p. 274)
Intended beneficiary
A third party for whose benefit a contract is formed. An intended beneficiary can sue the promisor if such a contract is breached. (p. 273)
Novation
The substitution, by mutual agreement, of another party for one of the original parties to a contract. (p. 284)
Obligor
In contract law, the party who is obligated to deliver on a promise or to undertake some act. (p. 276)
Outside party
In contract law, a person who may, in some way, be affected by a contract but who is not one of the contracting parties. Also called third party. (p. 273)
Third party
In contract law, a person who may, in some way, be affected by a contract but who is not one of the contracting parties. Also called outside party. (p. 273)
Third party beneficiary
A third party receiving benefits from a contract made by others. Also called as a beneficiary to the contract. (p. 273)
Warranty
A promise, statement, or other representation that an item has certain qualities; also, an insured's promise to abide by restrictions, especially those written into an insurance policy. Also, an obligation imposed by law that an item will have certain qua