Wendell owes Liz $75,000.Liz signs a written statement granting Troy a gratuitous assignment of her rights from Wendell.If Liz dies prior to delivering the statement to Troy:
A)Liz's death has no effect on the assignment.
B)the assignment is terminated upon Liz's death.
C)the signing of the statement makes the assignment irrevocable.
D)the assignment is invalid, because it is gratuitous.

Question

Quizplus · Accepted Answer

The assignment is gratuitous, meaning it is a gift and not supported by consideration from Troy. As a result, Liz retains the right to revoke the assignment until it is delivered to Troy. However, if Liz dies before delivering the statement, the assignment is terminated because it was not yet effective.

Wendell Owes Liz $75,000