Multiple Choice
Which of the following is an illustration of the possession of tangible token rule?
A) An obligee who is owed $10, 000 assigns the right of collection $5, 000 each to two assignees.
B) The right of collecting $10, 000 is recorded in the assignee's savings account passbook.
C) The assignee can re-assign the right only to a sub-assignee selected by the obligee.
D) An obligee cannot assign a right to collection of more than once.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: Condition subsequent exists when the parties to
Q17: What happens when an obligor does not
Q26: Distinguish between conditions and covenants.
Q39: When is nonperformance by a contractual party
Q45: Kimlon Informatics has to recover $5000 from
Q46: _ refers to a condition that requires
Q66: Which of the following refers to an
Q68: Howard is injured by Penny in a
Q75: Nonperformance of a covenant is not considered
Q81: If a delegatee has not assumed the