The Present Value of an Obligation of $8,000 Payable in 7

question 1

Multiple Choice

The present value of an obligation of $8,000 payable in 7 years at 8% is:

• A) $3,520
• B) $4,668
• C) $6,412
• D)$7,360

Differentiate between the roles and rights of assignors and assignees in the assignment process.

Grasp the legal distinctions between personal and non-personal contracts in terms of assignment possibility.

Recognize various exceptions to the general rules of contract assignment.

Understand the impact and enforcement of antiassignment clauses in contracts.

---

Definitions:

Drive-Reduction Theory

A theory in psychology that explains motivation as being driven by the desire to reduce internal tensions caused by unmet needs.

Water Fountain

A device designed to eject a stream or spray of water for drinking or decorative purposes.

Instinct Theory

A theory that suggests that behaviors are driven by instincts, which are innate patterns of response to stimuli.

Genetically Predisposed

Having a genetic makeup that increases the likelihood of developing certain traits or diseases.