A . Distinguish between an assignment, a delegation, and a third-party beneficiary contract as to the time rights of the third party arise. b. Identify and define the following terms: assignor and assignee; delegator and delegatee; intended beneficiary, incidental beneficiary, creditor beneficiary

Answer 1

a . In an assignment and a delegation, the rights of the third party arise sometime after the original contract has been entered. In a third-party beneficiary contract, the rights of the third party arise or are contemplated by the contracting parties at the time the original contract is made.
b. An assignor is the person making the assignment. The assignee is the person to whom the assignment is made. A delegator is a person making a delegation. A delegatee is the person to whom the delegation is made. An intended beneficiary is a third party intended by the two contracting parties to receive a benefit from their contract. An incidental beneficiary is a third party whom the parties to a contract have no intention of benefiting by their contract but who nevertheless would derive some benefit by the parties' performance of the contract. A creditor beneficiary is a third person intended to receive a benefit from an agreement in order to satisfy a legal duty owed to him.