A[n] ___________ Occurs When a Party to a Contract Transfers

question 60

Multiple Choice

A[n] ___________ occurs when a party to a contract transfers her duty to perform to a third party who is not part of the original contract.

• A) Transfer
• B) Assignment
• C) Delegation
• D) Performance
• E) Unenforceable occurrence

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Definitions:

Second Bank

Refers to the Second Bank of the United States, a federal institution that served as the country's central bank until its charter expired in 1836.

Profit-Making

The primary goal of most businesses and enterprises, which involves generating revenue in excess of its expenses to gain financial profit.

William Henry Harrison

The ninth President of the United States, whose term in 1841 was famously brief, lasting just one month before he died of pneumonia.

American System

An economic plan that emphasized high tariffs, a national bank, and federal subsidies for roads, canals, and other infrastructure projects to foster national growth and unity in the early 19th century.