Kimlon Informatics has to recover $5000 from a client for its services. The recovery period is 100 days but Kimlon needs the money immediately. It sells the right of collecting money from its client to Quikcollect, a collection agency. Here, Kimlon Informatics is the ________.
A) obligor
B) assignor
C) subassignee
D) assignee

Question

Quizplus · Accepted Answer

Kimlon Informatics is transferring its right to collect money from its client to Quikcollect, which makes it the assignor. The obligor is the client who owes money, the assignee is Quikcollect, and subassignee is not relevant in this scenario.

Kimlon Informatics Has to Recover $5000 from a Client for Its