Contracts for Paralegals: Legal Principles and Practical Applications 1st Edition by Linda Spagnola

Exercise 2

Identify the parties as the obligor, promisor, promisee, third-party donee beneficiary,
third-party creditor beneficiary, assignor, assignee, delegant, or delegate in the following
situations. Additionally, state whether the assignment or delegation is valid and why
-Mr.Smith takes out a life insurance policy with State Farm Insurance Company stating that his wife and three children should receive a $500,000.00 payment upon his death.