Revenue & Sales Corporation and Software,Inc. ,enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $64,500.Software transfers the right to payment under the contract to CreditLine LLC.This transfer is
A)a delegation
B)an assignment.
C)prohibited.
D)a third-party beneficiary contract.

Question

Revenue & Sales Corporation and Software,Inc. ,enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $64,500.Software transfers the right to payment under the contract to CreditLine LLC.This transfer is​
A)a delegation
B)an assignment.
C)prohibited.
D)a third-party beneficiary contract.

Quizplus · Accepted Answer

The transfer of the right to payment under a contract from one party to another is known as an assignment. CreditLine LLC becomes the assignee, and Revenue & Sales Corporation remains the obligor under the contract.