Which of the Following Statements Is TRUE

question 30

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)Even if the parties satisfy all of the usual requirements,rights under some types of contracts cannot be assigned and parties may by their contract prohibit assignment of the benefits of the contract.

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Definitions:

Marginal Cost

The rise in expenses incurred by the production of an extra unit of a product or service.

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single participant has significant market power.

Sales Volume

The quantity of goods or services sold by a company within a specific period.

Price

The quote of currency expected, called-for, or donated as payoff for something.