BLAW 3201 FINAL EXAM QUESTIONS
AND ANSWERS 100% PASS
Assignment of Rights - ANS Voluntary transfer to a third party of the rights arising from a
contract so that the assignor's right to performance is extinguished.
Assignor - ANS Party making an assignment.
Assignee - ANS Party to whom contract rights are assigned.
Obligor - ANS Party owing a duty to the assignor under the original contract.
Obligee - ANS Party to whom a duty of performance is owed under a contract.
Law Governing Assignments - ANS Primarily under Article 2 of the UCC.
Requirements of an Assignment - ANS Include intent but not consideration.
Revocability of Assignment - ANS When the assignee gives consideration, the assignor may
not revoke the assignment without the assignee's consent.
Partial Assignment - ANS Transfer of a portion of contractual rights to one or more assignees.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Assignability - ANS Most contract rights are assignable, except for certain exceptions.
Rights of Assignee - ANS The assignee stands in the shoes of the assignor.
Defenses of Obligor - ANS May be asserted against the assignee.
Notice - ANS Is not required but is advisable.
Implied Warranty - ANS Obligation imposed by law upon the assignor of a contract right.
Express Warranty - ANS Explicitly made contractual promise regarding contract rights
transferred.
Successive Assignments of the Same Right - ANS The majority rule is that the first assignee in
point of time prevails over later assignees.
Delegation of Duties - ANS Transfer to a third party of a contractual obligation.
Delegator - ANS A party delegating its duty to a third party.
Delegatee - ANS Third party to whom the delegator's duty is delegated.
Duties of the Parties - ANS Delegator is still bound to perform original obligation.
Novation - ANS Contract substituting a new promisor for an existing promisor, who is
consequently no longer liable.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
AND ANSWERS 100% PASS
Assignment of Rights - ANS Voluntary transfer to a third party of the rights arising from a
contract so that the assignor's right to performance is extinguished.
Assignor - ANS Party making an assignment.
Assignee - ANS Party to whom contract rights are assigned.
Obligor - ANS Party owing a duty to the assignor under the original contract.
Obligee - ANS Party to whom a duty of performance is owed under a contract.
Law Governing Assignments - ANS Primarily under Article 2 of the UCC.
Requirements of an Assignment - ANS Include intent but not consideration.
Revocability of Assignment - ANS When the assignee gives consideration, the assignor may
not revoke the assignment without the assignee's consent.
Partial Assignment - ANS Transfer of a portion of contractual rights to one or more assignees.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Assignability - ANS Most contract rights are assignable, except for certain exceptions.
Rights of Assignee - ANS The assignee stands in the shoes of the assignor.
Defenses of Obligor - ANS May be asserted against the assignee.
Notice - ANS Is not required but is advisable.
Implied Warranty - ANS Obligation imposed by law upon the assignor of a contract right.
Express Warranty - ANS Explicitly made contractual promise regarding contract rights
transferred.
Successive Assignments of the Same Right - ANS The majority rule is that the first assignee in
point of time prevails over later assignees.
Delegation of Duties - ANS Transfer to a third party of a contractual obligation.
Delegator - ANS A party delegating its duty to a third party.
Delegatee - ANS Third party to whom the delegator's duty is delegated.
Duties of the Parties - ANS Delegator is still bound to perform original obligation.
Novation - ANS Contract substituting a new promisor for an existing promisor, who is
consequently no longer liable.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
