Funeral Arts National Board Practice Exam

In a legal assignment, what is the name of the party who receives the rights?

1. Assignor

2. Obligor

3. Assignee

4. Executor

The correct answer is: Assignee

The party who receives the rights in a legal assignment is known as the assignee. This term refers specifically to the individual or entity that is granted the rights, benefits, or interests previously held by another party, known as the assignor. The process of assignment entails transferring these rights from the assignor to the assignee, thus allowing the assignee to perform or benefit from the contractual obligations or rights that were initially established. In legal contexts, understanding the roles of the assignor and assignee is crucial, as it delineates responsibility and the flow of rights. The assignor is the original holder of the rights being transferred, while the assignee is the new party that assumes those rights. This definition is fundamental for anyone practicing in areas that involve contract law or fiduciary duties, as it directly impacts enforceability and the transfer of contractual obligations. The other terms present in the options refer to different roles in various contexts. The obligor is the party that has the duty to fulfill an obligation, typically the one who owes money or a service in a contractual relationship. An executor is an individual appointed to administer a deceased person's estate, handling the distribution of assets and settlement of debts. These roles do not pertain to the concept of an assignment in