Asked by Shane 2Wavyy on May 08, 2024
Verified
What is the warranty of assignability at common law?
A) That when a party "assigns" a contract to another party, the assignor is impliedly providing a warranty of merchantability.
B) That when a party "assigns" a contract to another party, the assignor is impliedly guaranteeing a warranty of fitness for a particular purpose.
C) That when a party "assigns" a contract to another party, the assignor is impliedly guaranteeing that the rights being assigned are valid.
D) That when a party "assigns" a contract to another party, the assignor is expressly guaranteeing a warranty of merchantability for fitness.
E) That when a party "assigns" a contract to another party, the person being assigned contractual rights expressly agrees to provide consideration.
Warranty Of Assignability
A warranty of assignability assures that a contractual right or interest can be transferred or assigned to another party.
Common Law
A legal system based on custom and court rulings as opposed to written laws passed by a legislature.
Assignor
An individual or entity that transfers rights or interests in a contract to another, known as the assignee.
- Comprehend the criteria for the application of implied warranties and their types.
Verified Answer
Learning Objectives
- Comprehend the criteria for the application of implied warranties and their types.
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