An Assignment, If Otherwise Valid, Takes Effect the Moment It

question 13

True/False

An assignment, if otherwise valid, takes effect the moment it is made.

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Definitions:

Negotiation

The process of discussing and arriving at a mutual agreement between parties.

Ambiguous

Open to more than one interpretation; not having one obvious meaning.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument for the purpose of transferring ownership or authorizing its use by someone else.

Payable to Order

A financial term indicating that a payment should be made to a specific individual or entity whose name appears on the document.