Examlex

Solved

Box Coassigns a Conditional Contract with Yee to Zip Finance on on November

question 37

True/False

Box Co.assigns a conditional contract with Yee to Zip Finance on November 10.Zip Finance notifies Yee of the assignment on November 17.Yee had mailed his cheque to Box Co.on November 12,although it wasn't due until November 15.
-If Zip Finance gave Yee notice on November 13 that the November 15 payment was to be made to it,but Yee had already mailed the cheque on the 12 to Box Co. ,then Yee must put a stop payment on the cheque to Box Co.and send a new one to Zip Finance for the November 15 payment.


Definitions:

Community Property

A type of shared asset ownership usually among married couples, in which properties obtained while married are equally held by each partner.

Tenancy In Common

A form of co-ownership where each tenant holds an undivided interest in the property, with no right of survivorship.

Tenancy By The Entirety

A form of joint property ownership that is available only to married couples, where each owns the entire property and neither can dispose of it without the consent of the other.

Tenancy In Common

A form of co-ownership where each tenant has an undivided interest in the property, and there are no survivorship rights.

Related Questions