Question 1

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:

Accepted Answer

A)  enforceable, as Sara is also a CPA.
B)  enforceable, as there was no expectation James would do the work.
C)  not enforceable, as Robert hired James to perform personal services.
D)  not enforceable, as this violates public policy.

Question 2

In the case Rosenberg v.Son,Inc.,the Court held that:

Accepted Answer

A)  Son, Inc., as the assignee, was liable to the Rosenbergs.
B)  Despite the assignment of her rights, Pratt remained liable to the Rosenbergs.
C)  The assignment became a novation because Rosenberg signed it.
D)  The Rosenbergs became liable to Son, Inc.

Question 3

Brandon owes money to Jim.If Jim assigns to Rita his rights to Brandon's money,Jim is:

Accepted Answer

A)  the obligor.
B)  the assignee.
C)  the assignor.
D)  the beneficiary.

Question 4

Susan took out a life insurance policy on herself,paying all of the premium payments.She named her daughter,Jessica,as the beneficiary under the policy.Jessica has not given anything in consideration for the policy.Jessica is:

Accepted Answer

A)  a donee beneficiary who has rights to enforce the policy once Susan dies.
B)  a creditor beneficiary who has rights to enforce the policy once Susan dies.
C)  an incidental beneficiary because Jessica did not give any consideration for the policy and therefore cannot enforce the policy even when Susan dies.
D)  None of the above.

Question 5

Generally,the assignment of the obligation to perform personal services is invalid.

Accepted Answer

A) True 
 B)False

Exam 15: Third Parties

In the case Rosenberg v.Son,Inc.,the Court held that:

Correct Answer
verified

Generally,the assignment of the obligation to perform personal services is invalid.

Correct Answer
verified

Brandon owes money to Jim.If Jim assigns to Rita his rights to Brandon's money,Jim is:

Correct Answer
verified

Susan took out a life insurance policy on herself,paying all of the premium payments.She named her daughter,Jessica,as the beneficiary under the policy.Jessica has not given anything in consideration for the policy.Jessica is:

Correct Answer
verified

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:

Correct Answer
verified

Exam 15: Third Parties

In the case Rosenberg v.Son,Inc.,the Court held that:

Correct AnswerverifiedShow Answer

Generally,the assignment of the obligation to perform personal services is invalid.

Correct AnswerverifiedShow Answer

Brandon owes money to Jim.If Jim assigns to Rita his rights to Brandon's money,Jim is:

Correct AnswerverifiedShow Answer

Susan took out a life insurance policy on herself,paying all of the premium payments.She named her daughter,Jessica,as the beneficiary under the policy.Jessica has not given anything in consideration for the policy.Jessica is:

Correct AnswerverifiedShow Answer

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:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified