Which of the Following Is True Regarding Oral Assignments

question 29

Multiple Choice

Which of the following is true regarding oral assignments?

• A) Assignments may not be made orally.
• B) The UCC requires that assignments be in writing when the amount being assigned is greater than $5,000.
• C) Assignments are not covered by the statute of frauds.
• D) The UCC requires that assignments be in writing when the amount being assigned is greater than $2,000.
• E) Both that assignments may be made orally and that the UCC requires that assignments be in writing when the amount being assigned is greater than $1,000.

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Definitions:

Service of Process

The procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party (defendant), court, or administrative body in an effort to exercise jurisdiction over that person so as to enable that person to respond to the proceeding.

Lawsuit

A legal case brought to court by one party against another seeking a resolution to a dispute.

Defendant

The party against whom a lawsuit is filed in a court of law.

Plaintiff

The party who initiates a lawsuit by filing a complaint against the defendant in a court of law.