A(n)________ Occurs When a Party to a Contract Transfers Her

question 112

Multiple Choice

A(n) ________ occurs when a party to a contract transfers her duty to perform to a third party that is not part of the original contract.

• A)novation
• B)assignment
• C)delegation
• D)substantial performance
• E)agency

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Definitions:

Forestry Products

Goods derived from forests, including lumber, paper, and other materials made from trees.

Home Currency

The currency in which a company primarily operates or the currency of the country where the company is headquartered.

Forward Contract

A financial contract between two parties to buy or sell an asset at a specified future time at a price agreed upon at the contract's inception.

Settlement Date

The date on which a trade (purchase or sale of securities) is finalized, and the buyer must make payment while the seller delivers the securities.