How Many Dollars Would It Cost to Buy an Edinburgh

question 28

Multiple Choice

How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.25 dollars per one British pound?

• A) 50 dollars
• B) 60 dollars
• C) 70 dollars
• D) 62.5 dollars
• E) 40 British pounds

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Definitions:

Accord And Satisfaction

An arrangement between contracting parties whereby one of the parties substitutes a different performance for his or her original duty under the contract.

Novation

The act of replacing one obligation with another, effectively creating a new contract and releasing the original party from responsibility.

Assignment

The transfer of rights, property, or responsibilities from one party to another.

Delegation

The act of assigning responsibility or authority from one person or group to another person or group.