Joy and Kris Enter into a Contract for Kris to Lay

question 8

Multiple Choice

Joy and Kris enter into a contract for Kris to lay sod in Joy's yard for which she agrees to pay Kris. When Kris's schedule conflicts, she contacts Leza, to whom Kris "assigns all rights under the contract." Kris is​

• A) absolved of any liability under the contract.​
• B) ​liable to Joy for breach of contract.
• C) ​liable to Joy if Leza does not perform.
• D) ​liable to Leza for inducing a prohibited contract.

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Definitions:

Financing Activities

Financial transactions primarily involved with funding the company and its capital structure, including issuing debt, paying off debt, and equity transactions.

Issuing Debt

The process in which a corporation or governmental entity raises funds by selling bonds, bills, or notes to investors with a promise to pay back the principal along with interest on a specified date.

Acquiring Investments

The process of allocating resources, usually money, to purchase financial assets in the hope of generating income or capital appreciation.

Net Loss

The amount by which total expenses exceed total revenues for a specific period, indicating a financial loss for the entity.