What Is an Assignor's Warranty

question 43

Multiple Choice

What is an assignor's warranty?

• A) The right or duty of a particular person to perform or receive contract duties or benefits; cannot be assigned
• B) A new contract substituting for an old one, or a new party to a contract replacing a former party
• C) The relationship of the immediate parties to a contract, a "private" relationship, as between a retailer and a customer
• D) The passing or delivering by one person to another of the duty to perform a contract
• E) Promises, express or implied, made by an assignor to the assignee about the merits of the assignment

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specific period.

Shrimp Market

A specific sector within the food industry focusing on the buying, selling, and distribution of shrimp.

Price Ceiling

A legal limit set by the government on how high the price of a good or service can be charged in the market.