Transferable Contract
Definition
Transferable Contract. A contract in which the rights and obligations of one party (the holder) may be transferred to another party, which thereby takes on the same rights and obligations with respect to the other party to the contract
Note that the ability to transfer ownership of one side of a contract, and the concept of assignability, are distinct. In one case the contract may be freely traded; in the other case, some legal transfer of rights to a third party takes place, without a change in who are the signatories of a (typically bilateral) contract.
See Also
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
