Business Definition for: assignee
assignee
person to whom an agreement or contract is sold or transferred.
See also
assignor
assignee
assignee
the person to whom an agreement or contract is sold or transferred.
Example:
See also
assignor
Related Terms:
party who assigns or transfers an agreement or contract to another. Suppose Davis has an option to buy certain land. She assigns her rights to Baker, so that Baker now has the same rights. Davis is the assignor. Baker is the assignee.
individual to whom rights to a benefit are assigned. A life insurance policy is assigned by the collateral borrower (assignor) to the collateral creditor (assignee) as security for a loan.
party who assigns or transfers an agreement or contract to another. Suppose Davis has an option to buy certain land. She assigns her rights to Baker, so that Baker now has the same rights. Davis is the assignor. Baker is the assignee.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.