What Is the Warranty of Assignability at Common Law

question 78

Multiple Choice

What is the warranty of assignability at common law?

• A) That when a party "assigns" a contract to another party, the assignor is impliedly providing a warranty of merchantability.
• B) That when a party "assigns" a contract to another party, the assignor is impliedly guaranteeing a warranty of fitness for a particular purpose.
• C) That when a party "assigns" a contract to another party, the assignor is impliedly guaranteeing that the rights being assigned are valid.
• D) That when a party "assigns" a contract to another party, the assignor is expressly guaranteeing a warranty of merchantability for fitness.
• E) That when a party "assigns" a contract to another party, the person being assigned contractual rights expressly agrees to provide consideration.

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Definitions:

Bill of Rights

A collective name for the first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Inelastic Demand

A situation in which the demand for a product does not significantly change in response to a change in price.

Necessity

An essential requirement or need for survival or to maintain a certain standard of living.

Luxury

Goods or services that are considered non-essential but desired for their quality, status, or comfort they provide.