When No Consideration Is Given for an Assignment,creditors of the Assignor

question 29

True/False

When no consideration is given for an assignment,creditors of the assignor may have the assignment rescinded on the grounds that it violates the equal dignities rule.

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Definitions:

Interpretative Rules

Regulations or guidelines issued by government agencies for clarifying how the agency construes the legislation it administers.

Binding

An agreement or obligation that cannot be legally avoided or ignored.

APA

Stands for the Administrative Procedure Act, a U.S. federal statute that governs the way administrative agencies of the federal government may propose and establish regulations.

Procedural Requirements

Specific protocols and rules that must be followed in legal and regulatory processes to ensure fairness and compliance.