Currently, Julia Lee is vice president of Lessing Corporation. ...

[londonang]

Currently, Julia Lee is vice president of Lessing Corporation. Under the Revised Act, Julia will not be permitted to also hold the office of treasurer.
  Indicate whether the statement is true or false

Question 2

a. Distinguish between the time a third party's rights arise under an assignment, a delegation, and a third party beneficiary contract. b. Identify and define the following terms: assignor and assignee; delegator and delegatee.

[aloop]

Answer to Question 1

FALSE

Answer to Question 2

a. In an assignment and a delegation, the rights of the third party arise some time after the original contract has been entered into. In a third party beneficiary contract, the rights of the third party arise or are contemplated by the contracting parties at the time the original contract is made.
b. An assignor is the person voluntarily transferring a contractual right. The assignee is the person to whom the transfer is made. A delegator is a party transferring a contractual obligation to another party. A delegatee is the person to whom the delegation is made.