Which Statement Regarding Assignment Is Accurate

question 34

Multiple Choice

Which statement regarding assignment is accurate?

• A)Gratuitous assignments are generally revocable regardless of whether they are oral or written.
• B)An assignment for consideration is irrevocable.
• C)An assignment becomes valid when the obligor receives notice of the assignment.
• D)An assignment must be written and follow all legal formalities.

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Definitions:

Consumption

The use of goods and services by households, leading to the satisfaction of wants and needs.

Utility

A measure of satisfaction or pleasure that consumers derive from consuming goods or services.

Consumption

The act of using goods and services to satisfy needs and wants, a key concept in economics relating to how goods and services are used.

Satisfaction

The degree of contentment or pleasure experienced from the fulfillment of a desire or the consumption of goods and services.