Which of the following is true regarding oral assignments?
A) In some cases, assignments may be made orally.
B) Assignments, regardless of the terms, are not covered by the statute of frauds.
C) The UCC requires that assignments be in writing when the amount being assigned is greater than $1,000.
D) The UCC requires that assignments be in writing when the amount being assigned in greater than $1,500.
E) The UCC requires that assignments be in writing when the amount being assigned is greater than $2,000.

Question

Quizplus · Accepted Answer

Assignments can indeed be made orally in certain situations, except when specific statutes or the nature of the transaction (e.g., involving real estate or falling under the statute of frauds) require a written assignment.

Which of the Following Is True Regarding Oral Assignments