Plante owed Premo Oil Company $350 . Premo Oil Company assigned its right to the debt to Budget Finance Company on March 10 . On March 11, Plante paid Premo Oil Company $200 . On March 14, Plante received notification of the assignment by mail. When Budget Finance attempted to collect the $350, Plante refused to pay more than $150 . Must Plante pay Budget Finance Company $350?
a. Yes; rights to money are assignable and are binding as soon as the assignment agreement is made.
b. Yes; rights to money are assignable and are binding as soon as the assignment agreement is recorded in the proper office.
c. No; rights to money are assignable but are not binding until the debtor agrees to the assignment.
d. No; rights to money are assignable but are not binding until the debtor is properly notified of the assignment.
D
You might also like to view...
________ can communicate relative location and other comparative information
A) Pie charts B) Pictographs C) Schematic figures and flow charts D) Geographic maps
The minimum rate of return is also known as
a. hurdle rate b. payback period c. net present value d. cost of debt
When one party's target settlement is the other party's resistance point, they are likely to be:
A. Engaged in integrative bargaining. B. Engaged in distributive bargaining. C. Unable to reach an agreement. D. Quick to settle on a contract.
________ describes using one supplier for a component and a second supplier for another component, where each supplier acts as a backup for the other
Fill in the blanks with correct word