Only the parties to a contract can enforce or be bound by its terms.

A third party can enforce a contract if they are a beneficiary of the contract.

A third party can be bound by a contract if they are an assignee of the contract.

All of the above.

The third party must be identified in the contract.

The third party must have a legal interest in the performance of the contract.

The third party must be a creditor of one of the parties to the contract.

The third party must be a donee beneficiary.

The assignment must be in writing.

The assignment must be for consideration.

The assignment must be accepted by the other party to the contract.

The assignment must be for the entire contract.

The third party beneficiary can sue the party who breached the contract.

The third party beneficiary can recover damages from the party who breached the contract.

The third party beneficiary can rescind the contract.

All of the above.

The third party assignee can sue the party who breached the contract.

The third party assignee can recover damages from the party who breached the contract.

The third party assignee can rescind the contract.

None of the above.

The third party beneficiary was not intended to benefit from the contract.

The third party beneficiary did not suffer any damages as a result of the breach.

The third party beneficiary was not a creditor of one of the parties to the contract.

The third party beneficiary was not a donee beneficiary.

The assignment was not in writing.

The assignment was not for consideration.

The assignment was not accepted by the other party to the contract.

The assignment was for the entire contract.

A third party beneficiary is a person who is not a party to a contract but who is intended to benefit from the contract, while a third party assignee is a person who is not a party to a contract but who takes the place of one of the parties to the contract.

A third party beneficiary can enforce the contract, while a third party assignee cannot.

A third party beneficiary can recover damages for breach of contract, while a third party assignee cannot.

All of the above.

Creditor beneficiaries, donee beneficiaries, and incidental beneficiaries.

Intended beneficiaries, incidental beneficiaries, and remote beneficiaries.

Direct beneficiaries, indirect beneficiaries, and consequential beneficiaries.

None of the above.

A creditor beneficiary is a person who is owed money by one of the parties to the contract, while a donee beneficiary is a person who is not owed money by either of the parties to the contract.

A creditor beneficiary can enforce the contract, while a donee beneficiary cannot.

A creditor beneficiary can recover damages for breach of contract, while a donee beneficiary cannot.

All of the above.

A person who is not a party to a contract but who benefits from the performance of the contract.

A person who is not a party to a contract but who is harmed by the performance of the contract.

A person who is not a party to a contract but who is owed money by one of the parties to the contract.

None of the above.

Yes

No

Yes

No

An assignment is a transfer of rights under a contract from one party to another, while a novation is a new contract that replaces an existing contract.

An assignment can only be made with the consent of the other party to the contract, while a novation does not require the consent of the other party to the contract.

An assignment can only be made for the entire contract, while a novation can be made for part of the contract.

All of the above.

The assignee steps into the shoes of the assignor and acquires all of the assignor's rights and obligations under the contract.

The assignor is released from all of their rights and obligations under the contract.

The other party to the contract is released from all of their rights and obligations under the contract.

None of the above.