Edward owes Frank $100, payable in six months. Frank, who is leaving the country, gives his rights to the payment to Marge for $80. Which of the following is true about the scenario?
A) Frank is the obligor.
B) Edward owes Marge $80.
C) Edward owes Marge $100.
D) Frank will get $100 from Edward.
Correct Answer:
Verified
Q1: Annie buys a car from Bob's Motors.
Q3: Which of the following is a correct
Q4: Life insurance contracts are a common form
Q5: Ronny contracted Smiths to supply a dress
Q6: The transfer of rights under a contract
Q7: A remediation is a new, separate agreement
Q8: A creditor beneficiary has rights against the
Q9: After an assignment, the assignee is entitled
Q10: Which of the following contracts can generally
Q11: Any assignment that would materially alter the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents