What Would Be the Most Likely Result If Justin Sues

question 28

Multiple Choice

What would be the most likely result if Justin sues Harry for the $4,000 payment?

• A)Justin will win because the right to receive payment could be validly assigned.
• B)Harry will win because the portrait was personal in nature and payment for it could not be assigned.
• C)Justin will lose unless Justin can prove that he was unaware that Harry did not want the benefits assigned.
• D)Harry will win because he did not expressly agree to the assignment.
• E)Justin will win unless Harry can prove that Justin knew that Harry did not want the benefits assigned.

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Definitions:

Ordinary General Annuity

A series of equal payments made at regular intervals over a specified period of time, with the payment intervals occurring at the end of each period.

Future Value

The value of an investment at a specified date in the future, considering various factors like interest rates and compounding periods.

Conditional Sale Contract

A contract for the sale of goods where the payment of the price, or part of it, is deferred and the full ownership of the goods does not transfer until certain conditions, typically the full payment, are met.

Rate of Return

The gain or loss on an investment over a specified time period, expressed as a percentage of the investment's initial cost.