Site MapHelpFeedbackChapter Quiz
Chapter Quiz
(See related pages)

1
Al owes Bob $500. Bob transfers the right to the money to Chris, his daughter who is attending college. This transfer of rights to Chris is an "assignment."
A)True
B)False
2
An assignment can be made in any way that is sufficient to show the assignor's intent to assign.
A)True
B)False
3
Anti-assignment clauses are generally enforceable.
A)True
B)False
4
Ace Corp. promises to deliver 100 widgets to Best Inc. Ace Corp is bought by Wiz Co. before Ace makes the delivery to Best Inc. As part of the sale, Ace transfers to Wiz the duty to make the delivery. This is a "delegation."
A)True
B)False
5
Once an assignment has occurred, the person or party obliged under the contract should promptly be notified.
A)True
B)False
6
Incidental beneficiaries acquire the same rights under a contract as creditor beneficiaries.
A)True
B)False
7
The beneficiary under a life insurance policy is an example of a "donee beneficiary."
A)True
B)False
8
Alan and Bob enter into an agreement whereby Terry will benefit from the contract. Terry is a:
A)trustee beneficiary.
B)assigned beneficiary.
C)delegated beneficiary.
D)third party beneficiary.
9
Jack buys a boat on credit from Sail Away, Inc. Jack then sells the boat to Tom, who agrees to pay the balance due to Sail Away, Inc. In this case, Sail Away, Inc. is a:
A)incidental beneficiary
B)creditor beneficiary
C)donee beneficiary
D)None of the above
10
Which of the following statements regarding delegation is correct?
A)Obligors delegate duties to delegatees.
B)Obligors become delegators in a delegation.
C)both A and B
D)None of the above





To learn more about the book this website supports, please visit its Information Center.
(c)2007 McGraw-Hill Higher Education
Any use is subject to the Terms of Use and Privacy Notice.
McGraw-Hill Higher Education is one of the many fine businesses of The McGraw-Hill Companies.


Business LawOnline Learning Center

Home > Chapter 17 > Multiple Choice Quiz