Which of the Following Statements Is TRUE

question 59

Multiple Choice

Which of the following statements is TRUE?

• A)As long as the required formalities are satisfied, any contractual obligation can be assigned by using either a statutory assignment or an equitable assignment.
• B)All common law provinces and territories allow statutory assignments, but only some of them allow equitable assignments.
• C)An assignee acquires rights against the debtor only if it provides new consideration to the debtor.
• D)If there are two assignees of the same debt, a court will always favour the assignee that received its assignment first.
• E)The parties to a contract may agree at the outset that the rights that arise under their agreement cannot be the subject of assignment.

---

Definitions:

Profit Maximization

A business objective to achieve the highest possible profit from operations, often by adjusting production, prices, and other variables.

Competitive Industry

An industry structure where many firms compete for market share, with no single company dominating the market.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing to buy.

Cost Function

A mathematical formula that calculates the total cost of producing a given quantity of output, factoring in fixed and variable costs.