Asked by Ashley Hewett on May 01, 2024
Verified
Jan is obligated under a contract to pay Katie $500. Katie assigns the right to receive the funds to Loren. If Jan does not pay the debt, the obligee can
A) extinguish the contract rights of the obligor.
B) demand performance of the deal from any of the original parties.
C) enforce the payment in court.
D) none of the choices.
Obligee
The individual or entity that is entitled to receive a benefit or payment in a contractual agreement.
Original Parties
The initial entities or individuals who are directly involved in a legal agreement or contract.
- Perceive the legal rights and obligations of assignors, assignees, obligors, and obligees with respect to assigned agreements.
- Comprehend the judicial remedies available to parties when either party violates the terms of a contract or when the rights of a third party beneficiary are infringed upon.
Verified Answer
KD
Kayla DaltonMay 02, 2024
Final Answer :
C
Explanation :
When Katie assigns her right to receive funds from Jan to Loren, Loren becomes the new obligee. If Jan fails to pay, Loren, as the current obligee, has the right to enforce the payment in court. The assignment of rights does not change the original obligation of the obligor (Jan) to pay, but it does change who is entitled to receive the payment.
Learning Objectives
- Perceive the legal rights and obligations of assignors, assignees, obligors, and obligees with respect to assigned agreements.
- Comprehend the judicial remedies available to parties when either party violates the terms of a contract or when the rights of a third party beneficiary are infringed upon.