You Are a Creditor

question 5

Multiple Choice

You are a creditor.You have assigned (transferred) your right to receive payment from the debtor to a third party.Which of the following rules apply?

• A)The assignment must be listed on the Official Register of Debts and Liabilities.
• B)The debtor is not obliged to pay the third party until he/she is notified of the assignment.
• C)The debtor must agree to the assignment.
• D)All of the above.

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Definitions:

Additional Consideration

Extra benefits or compensation promised or provided beyond the original agreement, often used to modify or amend contracts.

Appraiser's Evaluation

An assessment or estimation of the value of a property or item, conducted by a qualified appraiser.

Substandard

Falling below the usual or required standard, often used to describe products or services that do not meet the expected level of quality.

Lapse of Time

The expiration of a period specified by statute, contract, or agreement after which legal rights may no longer be enforced or claims made.