ContractsContract_assignment_and_novationEASY
A real estate investor purchases a contract right to buy a property and plans to close the deal or resell the contract to another investor. What did the investor acquire through the initial transfer?
Correct Answer
C) An assignment of contract rights
The investor acquired an assignment, which is the transfer of the original buyer's contractual rights to the investor.
Answer Options
A
A delegation of dutiesB
A novationC
An assignment of contract rightsD
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Background Knowledge for Contracts
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Key Terms:
contract_assignment_and_novationcontractsassignmentinvestor
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