Unless Language or Circumstances Indicate the Contrary, a General Assignment

question 1

Multiple Choice

Unless language or circumstances indicate the contrary, a general assignment is:

• A) a transfer of property only.
• B) both a transfer of rights and a delegation of duties.
• C) a delegation of duties only.
• D) a transfer of rights only.

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Definitions:

Personal Property

refers to movable items owned by an individual or corporation, excluding real estate.

Real Property

Refers to land and any permanent structures attached to it, such as buildings or houses.

Tangible Personal Property

Physical items owned by an individual or entity, such as furniture, vehicles, and electronics, excluding real estate.

Real Property

Land and anything permanently attached to it, such as buildings, fences, and natural resources, recognized as a form of tangible assets.