Although Zlotnic Had Been in Business a Long Time,he Had

question 61

Multiple Choice

Although Zlotnic had been in business a long time,he had been forced to borrow heavily in the last few years.When his debt reached the limit of his line of credit,$100 000,the manager of the Regal Bank called him in for a talk.Subsequently,Zlotnic sold his house for $250 000 to the Johnsons.He contracted to buy another from the Scotts.From the proceeds he anticipated receiving from the Johnsons,he assigned $200 000 to the Scotts,the purchase price of Scott's house,and assigned $50 000 to the Regal Bank to reduce his debt.The assignment to the Scotts was in writing; the assignment to the bank was not.The Scotts gave written notice of the assignment to the Johnsons on March 1,the day the money was owed to Zlotnic.Johnson verified the assignment and paid out the $200 000 to the Scotts.On March 2,the Regal Bank gave written notice of its assignment to the Johnsons.Unfortunately,at that time only $45 000 was owing to Zlotnic because the Johnsons had paid $5000 to the Canada Revenue Agency for Zlotnic.Based on these facts,which of the following is true?

• A) The assignment to the bank is a statutory assignment.
• B) The assignment to the bank is not enforceable because it was not in writing.
• C) Regal Bank must take "subject to the equities" between Zlotnic and the Johnsons; i.e., it can't receive the whole $50 000.
• D) Zlotnic needed the permission of the Johnsons, the debtors, before he could make any assignments.
• E) The bank has no claim since the Johnsons didn't owe Zlotnic the specified $50 000 at the time of the assignment.

Understand the humanistic perspective on personality, emphasizing self-actualization and conditions of worth.

Analyze the role of the self-concept and self-verification in one's psychological experience according to Carl Rogers.

Differentiate the psychoanalytic and humanistic views on the nature and development of personality.

Understand the basic concepts and definitions of options, including calls and puts.

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Definitions:

Outer Wall

Refers to the exterior wall of a structure, acting as the first line of defense or barrier against external elements.

Ability to See

A physiological function that allows organisms to interpret electromagnetic wavelengths from the environment, commonly known as vision.

Humans

Intelligent, bipedal species known for advanced communication, social structures, and ability to create and manipulate the environment.

Retinal System

The part of the eye responsible for converting light into neural signals, allowing for the perception of visual images.