All but Which of the Following Is True About a Delegation

question 63

Multiple Choice

All but which of the following is true about a delegation of duties?

• A) When the delegatee assumes the delegated duty, both the delegator and the delegatee are liable for performance of the contractual duty to the obligee.
• B) Contractual duties are generally delegable.
• C) The courts will examine an assignment more closely than a delegation.
• D) A delegation will not be permitted if the nature of the duties are personal in that the obligee has a substantial interest in having the delegator perform the contract.

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Definitions:

Interest Revenue

Income earned by lending funds or allowing another entity to use your funds, where the borrower pays interest.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, culminating in net profit or loss.

Other Income

Any revenue other than revenue from sales. It appears in a separate section on the income statement. Examples: Rental Income and Storage Fees.

Merchandise Inventory

Items purchased for resale to customers in the ordinary course of business, representing a current asset on the balance sheet.