A Contract Stating "I Assign All of My Rights Under

question 53

True/False

A contract stating "I assign all of my rights under the contract" will generally be construed to be an assignment of rights but not duties.

---

Definitions:

Cost Of Goods Sold

Direct spending on materials and labor required to produce the merchandise a company sells.

Operating Expenses

The costs associated with the day-to-day activities of a business, excluding costs directly tied to the production of goods or services, such as rent, utilities, and salaries.

Merchandising Company

A business that purchases finished goods for resale in order to earn a profit, without transforming these goods.

Wholesale Parts Company

A business entity that specializes in purchasing and selling automotive, machinery, or electronic parts in large quantities at lower prices, primarily to retailers or repair shops rather than end consumers.