Which Statement Is True with Respect to Whether a Contract

question 52

Multiple Choice

Which statement is true with respect to whether a contract may be assigned even in the presence of an antiassignment clause?

• A) Assignments made by operation of law may be assigned, but no other assignments may be made in the presence of an antiassignment clause.
• B) Assignments for the right to receive monetary payments may be assigned, but no other assignments may be made in the presence of an antiassignment clause.
• C) Assignments made by operation of law, assignments for the right to receive monetary payments, and assignments for the right to receive damages for a breach of contract to sell goods or services may be assigned even in the presence of an antiassignment clause.
• D) No contractual rights or duties may be assigned in the presence of an antiassignment clause.
• E) Antiassignment clauses are void as against public policy and have no effect on the right of assignment.

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Definitions:

Journalizing

The process of recording financial transactions in the journal in chronological order.

Transaction Data

Data generated from business transactions, such as sales or purchases, often used for analysis, tracking, and reporting.

Journal

An accounting record where all business transactions are initially recorded in chronological order.

Book of Original Entry

The first place where financial transactions are recorded, including journals.