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A

For an assignment to be valid and enforceable, the assignor must make clear his intent to relinquish the right to the assignee.

B

The assignment takes effect through the actions of the assignor and assignee.

C

It is an act or manifestation by the owner of a right indicating his intent to transfer that right to another person.

D

The obligor must accept the assignment or else the assignment is invalid.

A

Sally Beauty Co. v. Nexxus Products Co.

B

Macke Co. v. Pizza of Gaithersburg, Inc.

C

Herzog v. Irace

D

In re Kaufman

A

Sally Beauty Co. v. Nexxus Products Co.

B

Herzog v. Irace

C

In re Kaufman

D

Western Oil Sales Corp. v. Bliss & Wetherbee

A

Ordinarily, an outright assignment extinguishes the right in the assignor.

B

An outright assignment ordinarily carries with it rights, remedies, and benefits that are incidental to the thing assigned.

C

An order to pay is not usually an assignment.

D

An assignment must include the word “assign.”

A

In re Kaufman

B

Sally Beauty Co. v. Nexxus Products Co.

C

Seale v. Bates

D

Herzog v. Irace

A

An assignment for the purposes of collection is included in Article 9.

B

The word “instrument” refers to a negotiable instrument and certain specialties.

C

Article 9 governs outright assignments of accounts and chattel paper because of their more frequent use as financing devices.

D

States’ adoption of Article 9’s many revisions has been far from uniform.

A

The UCC has provisions that limit the effectiveness of an anti-assignment clause.

B

A majority of cases have held that a contractual provision prohibiting the assignment of rights created by the contract is an unlawful restraint on alienation.

C

Courts are now tending to hold that anti-assignment clauses are ineffective unless the obligor has a legitimate interest in non-assignability.

D

Often, commercial leases will include clauses forbidding assignment without consent of the landlord.

A

An assignment is effective without notice.

B

Financial institutions are not happy with the general rule that they are bound by the defenses that the consumer has against the retailer.

C

The UCC has not clarified the question of what kind of notice of the assignment is required.

D

The obligor may generally assert against the assignee the defenses the obligor could have asserted against the assignor.

A

The English view is that as between successive assignees, the last will prevail if that party is the first to give notice, acts without notice of any prior assignments, and pays value.

B

The Restatements have adopted the “four horseman” rule.

C

The New York rule gives priority to the first assignee.

D

The problem of successive assignments is a frequent issue.

A

A delegation may be prohibited by statute, a rule, or public policy.

B

A duty to pay money is non-delegable.

C

A duty is non-delegable where performance by the delegate would vary materially from performance by the obligor.

D

It is generally held that duties under a construction contract are delegable.