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Question 7Which statement most accuratelydescribes third party beneficiary rights?
Correct!Correct!2 / 2 ptsQuestion 8Which of the following duties can probably be delegated?Correct!Correct!2 / 2 ptsQuestion 9Cheryl enters into a contract with Gabe. In this contract, Cheryl asks Gabe to pay the moneyhe owes her from the contract to her friend Leah because Leah is having financial troubles.Leah isa third party creditor beneficiary.
Correct!Correct!2 / 2 ptsQuestion 10Generally, in comparison to a donee beneficiary, a creditor beneficiary hasCorrect!Correct!2 / 2 ptsQuestion 11A rock group assigns its payment under a performance contract to the Costume Shop, abusiness that has supplied the group with outrageous stage outfits, and to which the groupowes a great sum of money. This isa valid assignment because this is a simple transfer of the right to receivemoney.a valid assignment because of the rule of freedom to contract. an invalid assignment because this is a personal service contract. an invalid assignment because it increases the burden of the payor. Correct!Correct!
Not yet graded / 2 ptsQuestion 12Kirk purchases a sailboat on credit from Lakefront Sales, and Lakefront keeps a securityinterest in the boat. Lakefront then assigns the security interest to First Finance Co. Explainwhat having a security interest means. Under the UCC, what defenses can Kirk assert againstFirst Finance?