What term describes the transfer of one's contractual right to another person?

Study for the CLEP Business Law Test. Engage with flashcards and multiple choice questions, each question has hints and explanations. Prepare effectively for your exam!

The correct term that describes the transfer of one's contractual rights to another person is "assignment." In the context of contract law, an assignment occurs when a party (the assignor) transfers their rights under a contract to a third party (the assignee). This allows the assignee to have the same rights to receive benefits or enforce obligations as the original party would have had.

Assignments are commonly used in various contexts, such as transferring rights to receive payment, benefits, or performance under a contract. It is important to note that the original obligor (the party required to perform) does not change; only the right to enforce the contract is transferred, which distinguishes assignments from other concepts.

The other terms provided relate to different legal concepts. Delegation refers to the transfer of duties or responsibilities under a contract rather than rights. Alienation typically pertains to the transfer of property ownership and is more commonly used in real estate contexts. Conveyance usually deals with the formal transfer of title in property, particularly real estate, and does not encompass the broader idea of transferring contractual rights.

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