After an Assignment, the Assignee Is Entitled to Whatever Performance

question 23

True/False

After an assignment, the assignee is entitled to whatever performance the assignor had a right to under the original contract.

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Definitions:

Net Capital Loss

It's the loss incurred when the total capital losses from investments exceed the total capital gains for a year.

Capital Loss Carryforward

A tax provision that allows investors to use a net capital loss in one year to offset future capital gains for tax purposes.

Net Capital Gains

The profit from the sale of assets or investments after subtracting any losses, important for tax calculations.

Net Operating Loss

A situation in which a company's allowable tax deductions are greater than its taxable income within a tax period, leading to a negative taxable income.