Sid and Nancy Entered into a Contract

question 60

Multiple Choice

Sid and Nancy entered into a contract. Part of that contract was subsequently assigned to Johnny. Which of the following statements may be TRUE?

• A) The assignment must have happened by operation of law, rather than in response to a party's intention.
• B) Johnny may be able to collect the same debt twice if the debtor does not provide timely notice of the assignment.
• C) As a result of a statutory assignment, Johnny became entitled to receive half of the money that Nancy owed to Sid under the contract.
• D) Johnny is now required to provide personal services to either Sid or Nancy.
• E) One of the parties assigned the contract to Johnny even though the other party strenuously objected to that development.

Recognize the role of political opportunities, resource mobilization, and social control in shaping collective action.

Analyze the impact of social and political environments on the probability and nature of protests and collective violence.

Understand the role of lynching in enforcing discipline among black farm workers post-slavery.

Recognize indicators of social breakdown and strain.

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Definitions:

Time Value

The principle that having money now is more valuable than the same sum in the future because of its ability to earn more over time.

Money

A medium of exchange that facilitates the transfer of goods and services and serves as a measure of value and a store of wealth.

Interest

The cost of borrowing money or the payment received for the lending of resources, typically expressed as a percentage rate over a period of time.

Present Value Analysis

The process of determining the present worth of a future stream of cash flows by applying a discount rate to account for the time value of money.