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Revenue & Sales Corporation and Software, Inc., enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $64,500. Software transfers the right to payment under the
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Revenue & Sales Corporation and Software, Inc., enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $64,500. Software transfers the right to payment under the contract to CreditLine LLC. This transfer is​

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Answer:

An Assignment

Step-by-step explanation:

Assignment in contract occurs when a party to a contract transfers the contract's obligations and benefits to another party so that the new party can take over the contacts obligation and right.This is guided by an assignment agreement that shows the intent to transfer the rights and obligation.

The process of contract assignment involves the assignor and the assignee. The assignor is the party that transfers its right and obligation while the assignee is the party that receives the right and obligation

User Couzzi
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