Jim's Contract with Frank Obligated Jim to Pay Frank $10,000

question 5

Multiple Choice

Jim's contract with Frank obligated Jim to pay Frank $10,000.Frank properly assigns the contract to Abel.At that time,Abel notifies Jim about the assignment.Jim,however,forgets and pays the $10,000 to Frank.By this time,Abel is screaming for his money.However,by then,Frank goes into bankruptcy.In this case:

• A)Jim is liable to Abel for $10,000.
• B)Abel is out of luck because Jim performed his obligation by paying Frank.
• C)Jim is liable to Abel not for the $10,000,but for his breach of the implied warranty that the assignor is solvent.
• D)Abel is out of luck because his notification was oral rather than written.

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Definitions:

Heart

A metaphorical or literal term, referring either to the organ that pumps blood through the body or the core, emotional center of something.

Writer

An individual who expresses thoughts, stories, or information through the act of writing.

Solicited Proposal

A proposal requested by an organization or individual, often in response to a specific problem or need.

Explicit Invitation

A direct and clear request or call to someone to participate in a specific event or action, leaving no room for ambiguity or misunderstanding.