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When no consideration is given for an assignment,creditors of the assignor may have the assignment rescinded on the grounds that it violates the equal dignities rule.

---

Definitions:

Profit-Maximizing Price

The price level at which a company can sell its product or service to achieve the highest possible profit, taking into account the cost of production and market demand.

Average Total Cost

The total cost of production divided by the number of units produced, often used to identify the most efficient scale of production.

Efficient Level

The optimal point of production or operation at which a firm, economy, or system can produce goods or services with the minimum waste of resources.

Society's Viewpoint

Represents the collective opinions and social perspectives held by a community or the public on various issues.