A Gratuitous Assignment Is Revocable by the Assignor

question 18

True/False

A gratuitous assignment is revocable by the assignor.

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Definitions:

Perfection

In legal contexts, this term often pertains to the steps required to protect a secured interest against claims from third parties.

Public Notice

An official announcement made to the public through available ways, including newspapers, official websites, or public bulletin boards.

Attachment

The legal process of seizing property of a defendant in a lawsuit by a creditor prior to obtaining a judgment to secure the fulfillment of a judgment.

Bona Fide Purchaser

A person who buys property in good faith, without notice of any prior claims or disputes over the property, and is therefore protected under law.