Which of the Following Is True of an Assignment

question 49

Multiple Choice

Which of the following is true of an assignment?

• A) It is considered as a negotiation under Article 3 of the Uniform Commercial Code (UCC).
• B) The transferee is known as a holder in due course.
• C) Defenses to the enforcement of the contract against the assignor can be raised against the assignee.
• D) Only negotiable instruments can become assignments.

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Definitions:

Demand Curve

A graph showing how the quantity demanded of a good or service varies with its price.

Elastic

A characteristic of a good or service where its demand or supply changes significantly when its price changes.

Average Costs

The total costs of production (fixed and variable) divided by the total quantity of output produced.

Central Planning Model

A system of economy where all choices regarding the creation and use of goods and services are made by the government.