Phillip Assigns His Rights Under a Contract with Maria to His

question 42

Multiple Choice

Phillip assigns his rights under a contract with Maria to his college roommate,John. Neither Phillip nor John notifies Maria of the assignment. The assignment

• A)will not be effective until notice is given to Maria.
• B)will become effective after thirty days even if no notice is given to Maria.
• C)is immediately effective.
• D)can be circumvented.

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Definitions:

Escalator Clauses

Provisions in a contract that allow for an increase in the price or wages under certain conditions, often linked to the cost of living or inflation.

Reference Price

The price that consumers consider reasonable or fair for a product or service, often based on past experiences or comparisons with similar products.

Reasonable Price

A price that is fair and acceptable to consumers, often considered in relation to the value of the product or service.

Unbundling

The process of separating a product or service into individual components which can be sold separately.