Bob,a House Painter,contracts with Ollie to Paint a Rental House

question 10

Multiple Choice

Bob,a house painter,contracts with Ollie to paint a rental house that Ollie owns.Bob hires Rob to take his place as the painter on this contract.What has Bob done?

• A)made a scrivener's error
• B)severed the contract
• C)delegated his duties
• D)assigned his rights

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Definitions:

Partnership Dissolution

The process of terminating the legal existence of a partnership, involving the winding up of its affairs, liquidation of assets, and distribution of the remaining assets among the partners.

Liquidation Process

The formal process of winding up a company's operations, selling its assets, and using the proceeds to pay off creditors before ceasing operations.

Sole Proprietorship

A business owned and operated by one individual, where there is no legal distinction between the owner and the business entity.

Incorporated

The process of legally declaring a business entity as a corporation, providing its owners with benefits such as limited liability.