Which of the Following Is True in the Event an Assignee

question 32

Multiple Choice

Which of the following is true in the event an assignee does not provide a notice of assignment to the obligor?

• A) The assignee's only course of action is to sue the obligee for damages.
• B) The assignee cannot sue the assignor for damages.
• C) The obligor's only recourse is to sue the assignee for damages.
• D) The assignee cannot sue the obligor to recover payment.

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Definitions:

Note Issued

A monetary tool signifying a commitment to pay a determined sum of money on a designated future date.

Quick Assets

Resources that can be rapidly turned into cash without a decrease in value, such as cash itself, tradable securities, and money owed from accounts receivable.

Temporary Investments

Investments in securities or other assets that are intended to be sold within a short period, typically within a year.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or sold but not yet paid for.