The Speelman V.Pascal Case Held That

question 53

Multiple Choice

The Speelman v.Pascal case held that:

• A)a gratuitous assignment is terminated by the assignor's death, even if the assignor made an effective delivery of the assignment prior to his death.
• B)assignments of rights to sums that are expected to become due to the assignor are enforceable.
• C)assignments cannot be made of sums that are not presently due but are expected to become due in the future.
• D)personal contracts are not assignable.

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Definitions:

Contribution Approach

An income statement formatting that separates fixed from variable costs, showing contribution margin.

Opportunity Cost

The loss of potential gain from other alternatives when one option is chosen.

Cost Formula

An equation or method used to determine the total cost of producing goods or services, combining fixed costs, variable costs, and sometimes semi-variable costs.

Variable Selling Expenses

Costs that vary directly with the volume of sales, such as commissions and shipping fees.