100%(27)27 out of 27 people found this document helpful
This preview shows page 2 - 4 out of 8 pages.
15.Amanda buys a vacuum cleaner to use in her home from retailer Andy. Amanda promises to pay for it in six monthly installment of $50 each. Andy assigns the contract to Big Finance Co. who paid value and took without notice of any defense. Big Finance Co. sues Amanda for nonpayment. Amanda has stopped making payments because the vacuum stopped working and Andy refuses to honor the express warranty he made to her at the time of the sale. Generally, any defense that Amanda may have against Andy is good against Big Finance Co.PTS:1MSC:AACSB Reflective ThinkingMULTIPLE CHOICE1.Brandon owes money to Jim. If Jim assigns to Rita his rights to Brandon’s money, Jim is:PTS:1MSC:AACSB Reflective Thinking2.In the Schauer v. Mandarin Gems of California, Inc. case, the court held:PTS:1MSC:AACSB Analytic3.A third party beneficiary's status occurs:
ANS:DPTS:1MSC:AACSB Analytic4.Robert hired James, a CPA, to prepare his tax returns. James was too busy and delegated the work to Sara, also a CPA. This delegation is:PTS:1MSC:AACSB Reflective Thinking5.The beneficiary of a life insurance policy would ordinarily be:PTS:1MSC:AACSB Reflective Thinking6.The status of a third party is determined by:PTS:1MSC:AACSB Analytic