Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'assignable contract'?

A. contract in which contract holder (assignor) may transfer some or all of their rights and obligations to another party (assignee)
B. contractual element that is a statement made by a party to the contract, before or at the time of making the contract, in regard to some fact, circumstance, or state of affairs pertinent to the contract, which the counterparty(ies) rely on, or is influential in bringing about the contract
C. contract that may be replaced by another contract, and in that event, extinguishes the rights and obligations in effect under the original contract with those in the new agreement
D. contract provision specifying how funds obtained through financing, such as through a credit agreement, offering, warrant, or other instrument are intended to be used

Answer: contract in which contract holder (assignor) may transfer some or all of their rights and obligations to another party (assignee)