The Transfer of Rights Under a Contract to a Third

question 27

Multiple Choice

The transfer of rights under a contract to a third party is called:

• A)An assignment.
• B)An adjudication.
• C)A resolution.
• D)A delegation to an obligee.

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Definitions:

Tax Revenue

Government income collected from citizens and businesses through imposed levies and duties.

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Good

An item or service that fulfills a consumer's want or need, which can be tangible, like a car, or intangible, like a service provided by a dentist.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefits received by all participants.