Final answer:
To discharge student loans through bankruptcy, one must prove undue hardship, which includes an inability to maintain a minimal standard of living, a persistent state of financial struggle, and efforts to repay the loans.
Explanation:
To have student loans discharged through bankruptcy, a person must demonstrate 'undue hardship.' This is a difficult standard to meet, as it usually requires proving that the individual cannot maintain a minimal standard of living if forced to repay the loans, that this hardship would continue for a significant portion of the repayment period, and that the debtor has made good faith efforts to repay the loans.
Filing for bankruptcy usually involves a bankruptcy court determining whether the loans cause undue hardship through an adversary proceeding. This process is often complex, and the outcomes can vary widely depending on jurisdiction and the specific circumstances of the debtor. Considering other financial aid options like scholarships, grants, or a work-study program prior to borrowing, as well as familiarizing oneself with the Free Application for Federal Student Aid (FAFSA), can be beneficial in managing postsecondary education costs and potentially reducing the need for large student loans.
Adhira buys chocolates and almonds. She has 3 bars of chocolates and 4 bags of almonds. The marginal utility of the third chocolate bar is 18 of marginal utility and the marginal utility from the fourth bag of almonds is also 18. Is Adhira maximizing her utility? A. Yes, the marginal utility from the last unit of each good is equal. B. No, she must cut back to 3 bags of almonds to equate her quantities of the two goods. C. No, she must buy 1 more chocolate bar to equate her quantities of the two goods. D. No, without information on her income and the prices of the two goods, we cannot answer the question.
Answer:
The correct answer is option D.
Explanation:
Adhira is purchasing two goods, chocolates and almonds.
She buys 3 bars of chocolates and 4 bags of almonds.
The marginal utility from the last bar of chocolate is 18.
The marginal utility from the last bag of almonds is also 18.
In order to maximize utility, the ratio of marginal utility and price for both the goods should be equal.
As we do not know the price of the two goods or Adhira's income we cannot find if the utility is being maximized or not.
The ____ rule explains variation in employee conduct through generalizing on the percentage of employees in any given organization who will seek to do right versus how many will be indifferent.
Answer: 10/40/40/10
Explanation:
Under the 10/40/40/10 rule, 10% of the employees tend to follow ones own attitudes and values, i.e. they believe that their beliefs are more remarkable than those around them. 40% of the employees try to go along with the organization policies. The other 40% might follow their assigned work group whereas the last 10% tend to take advantage of such circumstances just in case if degree of penalization is lower to that of the benefit and also risk of getting caught is less.
Every time a search is made using keywords related to construction, search engines display text-based advertisements and links to Regan Builders, a construction firm. The marketing tool used by Regan Builders is best referred to as a ________.
Answer: Contextual advertisement
Explanation:
The contextual advertisement is basically refers to the targeted advertisement that usually appear on the websites and other type of media like the advertisement content are displaying on the browser of the mobile.
Based on the different types of context, the advisement are automatically selected by the system and the context are basically depend upon the choice of the user.
When the relevant digital content are matched with the promotional message then this process is known as the contextual advertisement.
The production function for Country A exhibits constant returns to scale. Suppose that physical capital per worker, human capital per worker, and natural resources per worker all triple. At the same time, Country A's technological knowledge doubles. Productivity A. does not change. B. is now two times larger. C. is now three times larger. D. is now six ties larger
Answer:
D. is now six ties larger
Explanation:
The total change = change in inputs * change in technology
= 3*2
= 6 times
Therefore, The change is 6 times larger in production.
Final answer:
For Country A, exhibiting constant returns to scale, tripling all per worker inputs and doubling technological knowledge results in productivity being six times larger.
Explanation:
The student's question revolves around the concept of a production function and its returns to scale when inputs such as physical capital, human capital, natural resources, and technological knowledge are varied. Since Country A exhibits constant returns to scale, tripling the per worker inputs would naturally result in tripling the output. However, because the question also mentions that technological knowledge has doubled, this factor needs to be considered separately. Doubling of technology would double the productivity on its own.
Therefore, the combined effect of tripling inputs (given constant returns to scale) and doubling technological knowledge would be a six-fold increase in productivity. This aligns with the principle that in a production function with constant returns to scale, an increase in all inputs leads to a proportional increase in output. The answer is D. Productivity is now six times larger.
The Lin household’s annual income is $188000. Based on the U.S. federal tax rates below, what is the average tax rate for the Lin household? (Assume zero tax deductions for solving this problem.)
A. 45%
B. 24.41%
C. 22.22%
D. 33%
Answer:
24%
Explanation:
For the taxes due on April 2020 (current year taxes):
The Lin household falls under the fourth tax bracket for married individuals filing jointly:
tax rate 24%Income between $171,051 to $326,600If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.
Amir, who files single, has AGI of $58,000 and incurred the following itemized deductions this year: Union dues and work uniforms: $350 Home office expenses: $1,200 Unreimbursed employee expenses: $415 Gambling losses to the extent of gambling winnings: $890. What is Amir's total itemized deduction related to these items?
Answer:
$890
Explanation:
With respective to tax perspective, the following items are not available for deductions which are shown below:
1. Union dues and work uniforms
2. Home office expenses
3. Unreimbursed employee expenses
The gambling losses are extent to the gambling winnings i.e $890 is available for the itemized deductions. The 2% rate is not applicable.
The total itemized deduction related to union dues, home office expenses, unreimbursed employee expenses, and gambling losses is $2,855.
Explanation:To calculate the total itemized deduction related to the mentioned items, we need to sum up the individual deductions. Adding up the amounts:
Union dues and work uniforms: $350Home office expenses: $1,200Unreimbursed employee expenses: $415Gambling losses: $890The total itemized deduction related to these items is $350 + $1,200 + $415 + $890 = $2,855.
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________ occurs if fungible goods (goods that are exactly alike) are commingled. If this is the case, the owners share title to the commingled goods in proportion to the amount of goods contributed.
Answer: confusion
Explanation: this when products or goods of different owners get commingled and cannot be separated and returned to the real owner but the goods retain their original characteristics.
The process where vendors ship the merchandise prepackaged to the distribution center in the quantities required for each store and then that merchandise is shipped to stores as soon as it is received is called cross-docking. ticketing. reverse logistics. push supply. pull supply
Answer:
Cross-docking
Explanation:
Based on the information provided within the question it can be said that this process is called Cross-docking. In the context of logistics, this is offloading packages or shipments directly into other forms of transportation that are taking those packages to their destination. This is mostly done in order to speed up the shipping process and make sure the packages get to their destination as fast as possible.
Sandhill Co. sells office equipment on July 31, 2017, for $22,430 cash. The office equipment originally cost $77,870 and as of January 1, 2017, had accumulated depreciation of $36,830. Depreciation for the first 7 months of 2017 is $4,580. Prepare the journal entries to (a) update depreciation to July 31, 2017.
Answer:
Debit Depreciation expense account $4,580
Credit Accumulated depreciation $4,580
Being entries to recognize depreciation for the first 7 months of 2017
Explanation:
Given that depreciation for the first 7 months of 2017 is $4,580, the journals to update depreciation to July 31, 2017 is
Debit Depreciation expense account $4,580
Credit Accumulated depreciation $4,580
Being entries to recognize depreciation for the first 7 months of 2017 before disposal of the office equipment.
The table describes Sergei's costs for his perfectly competitive all-natural ice cream firm.
Output Total Cost($)
0 10
1 60
2 80
3 110
4 170
5 245
1. If the market price of a tub of ice cream is $67.50, how many tubs of ice cream will Sergei's firm produce?
A) 1 B) 2 C) 3
2. If the market price of a tub of ice cream is $67,50, how much is Sergei's total revenue at the profit-maximizing output?
A) S270 B) $170 C) $135 D) $67.50
Answer:
It will produce 4 units which enerates a total revenue of 270 dollars
Explanation:
we have to check the marginal cost (cost of the addtional unit) and produce until this cost matches the marginal revenue (in this case selling price)
1st unit marginal cost: 60 - 10 = 50
2nd unit marginal cost: 80 - 60 = 20
3rd unit marginal cost: 110 - 80 = 30
4th unit marginal cost: 170 - 110 = 60
5th unit marginal cost: 245 - 170 = 75
It get's closer that the 4th units thus , the company will produce that many units.
Total revenue at profit-maximizing output:
4 units x $67.50 each = $270
Final answer:
Sergei's firm will not produce any tubs of ice cream at a market price of $67.50, and the total revenue at the profit-maximizing output is $0.
Explanation:
To find the answer to question 1, we need to determine the quantity of ice cream tubs that Sergei's firm will produce. We can do this by comparing the total cost with the market price.
From the table, we can see that the market price is $67.50. The total cost for each output level is: 10, 60, 80, 110, 170, 245 respectively.
As the total cost exceeds the market price for all output levels, Sergei's firm will NOT produce any tubs of ice cream.
To answer question 2, we need to calculate Sergei's total revenue at the profit-maximizing output. Given the market price of $67.50, we can multiply it by the profit-maximizing output to find the total revenue.
Since Sergei's firm does not produce any tubs of ice cream, the total revenue would be $0. Therefore, the correct answer is A) $270.
Tony brings together buyers and sellers of used heavy construction equipment, and helps them negotiate the terms of the sale. However, he never takes title to any of the equipment himself, nor does he provide any financing for the buyer. Tony is acting as a
Answer: Broker
Explanation: In simple words, broker refers to the individual or a firm who works as a medium for the buyers and sellers and persuade them to make a deal. These individuals usually charges commissions on every deal they made between the two parties.
These are market experts who know the needs of different parties to the contract and charges them for saving their time and efforts. In the given case, Tony did not purchases any of the assets but only arranged deals with the buyer and seller.
Hence we can conclude that he is a broker.
Mix Recording Studios purchased $7,800 in electronic components from TechCom. Mix Recording Studios signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, what is the amount due on the note?
a. $130
b. $7,800
c. $7,930
d. $8,050
e. $8,130
Answer:
C) $7,930
Explanation:
The amount due on the note should equal the principal and the accrued interest of the note.
The principal (the amount borrowed) of the note is $7,800.
The accrued interest is: $7,800 x (2/12) x 10% = $130.
The total amount of the note = $7,800 + $130 = $7,930
Laurie and Steve own a small candy shop together, located on Main Street in Allentown, Pennsylvania. Their agreement spells out that should one of the parties die, that person’s interest automatically passes to the surviving party. Laurie and Steve’s agreement is best described as ________.
Answer:
The correct answer is: joint tenancy.
Explanation:
Joint tenancy can be defined as a legal agreement under which two or more people jointly own a property, with equal rights and obligations. In case of death one of the owners, the owner's interest pass on to the surviving owners without going to the courts.
The concept of joint tenancy is generally related to real estate ownership but can be applied to a range of assets.
Answer:
Joint tenancy
Explanation:
Joint tenancy
It is legal agreement between two member which defined for the equal sharing of rules and responsibilities among those two members.
If two person are house mate or own a property then the rules and responsibilities applied for one person will be the same for other person too. In the same way if one of the two owner dies then the interest that is liable to other person is transferred to the one who is surviving.
Katherine gives piano lessons for $20 per hour. She also grows flowers, which she arranges and sells at the local farmer’s market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into flowers, she can sell them for $150 at the farmer’s market. Katherine’s accounting profits are___________
Katherine's accounting profit from her flower-selling business, when considering only explicit costs (money spent), is $100.
Explanation:The subject of this problem is calculating Katherine's accounting profits from her flower business. Accounting profit is calculated by subtracting total explicit costs (out-of-pocket expenses) from total revenues. In this case, Katherine has sold her flowers for $150 (total revenue) and spent $50 on seeds (explicit cost). So, her accounting profit can be calculated as follows: $150 (Total Revenue) - $50 (Explicit Cost) = $100. This does not take into account the time she spent planting the seeds, which can be considered an implicit cost (opportunity cost). If we include this implicit cost, assuming she could have been giving piano lessons and earning $20/hr for those 5 hours spent planting, which totals $100, then her economic profit would be $0. But, the question asked for the accounting profit, so the answer is $100.
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Final answer:
Katherine’s accounting profits from her flower selling business are calculated by subtracting the explicit costs of the seeds ($50) from her total revenue ($150), resulting in $100.
Explanation:
To calculate Katherine’s accounting profits, we first need to account for her total revenues and then subtract her explicit costs. Katherine earned $150 from selling her flowers at the farmer’s market, which constitutes her total revenue. The explicit costs involved in this venture were the $50 spent on seeds. Additionally, if we consider the opportunity cost of her time, there would be another cost to include, considering Katherine could have earned $20 per hour giving piano lessons. Therefore, her opportunity costs for 5 hours would be $20/hour × 5 hours = $100. However, since the question specifically asks for the accounting profits, we do not consider her opportunity cost here.
The formula for accounting profit is:
Accounting Profit = Total Revenues - Explicit Costs
By plugging in the numbers we have:
Accounting Profit = $150 (revenues from flowers) - $50 (cost of seeds)
Accounting Profit = $100
Hence, Katherine's accounting profits from selling the flowers are $100.
Tuan bought a new leather jacket after saving for many months for the luxury purchase. On the first day he went out wearing the new garment, he found a $50 bill on the sidewalk outside of his office. He now refers to the jacket as his "lucky jacket" and believes that it has some magical power to give him good fortune. Tuan’s belief in the jacket’s cosmic ability is an example of________
Answer: an illusory correlation
Explanation: In simple words, illusory correlation refers to establishing a relation between two variables even when no such relationship exists in real.
In the given case, Tuan bought a jacket and due to some events, started believing that it has magical power in it. Tuan do not have any kind of quantitative or relative proof that the commodity have such magical powers or are somehow related to the good fortune but still he believes that.
Hence we can conclude that Tuan is trying to make an illusory correlation.
Tax returns filed manually have a 20% chance of containing errors. True or False
Answer:
True
Explanation:
According to the Internal Revenue Agency (IRS) up to 20% of all tax filings done manually contain errors, while only 0.05% of online tax filings contain errors. That is a huge difference. Some of the most common errors are due to erroneous mathematical calculations. That is why online filing helps a lot since the web services do all the math calculations for you. Another advantage of online filing is that they are review much faster than manual filings.
The forecast for your company’s headquarters predicts the area hit head on by a hurricane,. The company sends you to their cold site to minimize downtime should such a disaster hit. Which of the following statements is false?
Answer:
The correct answer is The site will have all of the company’s applications.
Explanation:
It is the only way to ensure a minimum or zero level of inactivity, because otherwise people will not have the necessary tools to execute their work.
It is hardly obvious that due to the nature of the tasks it is impossible to try to adapt a space that is not adequate to execute them, since the conditions must be the necessary ones to guarantee it.
The board members of Bluegold corporation are meeting to discuss the possibility of the voluntary dissolution of the corporation. The idea for voluntary dissolution is put forward by a member of the board. The idea is seconded by another board member, and then put to the vote of the entire board of directors. The idea passes, and Bluegold corporation is voluntarily dissolved. The vote that authorized the dissolution is called ________.
Answer:
the resolution
Explanation:
Based on the information provided with regards to the situation at hand it can be said that the vote that authorized this is known as the resolution. Like described in the question, this term refers to the final verdict to a problem or idea put forward by a board member, and decided by voting between all board members until the verdict is decided. Which is exactly what happened with Bluegold corporations idea of voluntary dissolution.
Metro City Mall requires its tenants to sign a lease that includes a clause releasing Metro from liability in the event of monetary or physical injury no matter who is at fault. Coco’s Chocolate Creations signs a lease with the mall that contains the clause.
The clause is most likely:
a. enforceable as a matter of public policy
b. enforceable if either party is considered to be a business for essential services
c. enforceable if the lease also involves residential property
d. unenforceable
Answer:
D) unenforceable
Explanation:
This type of clause is an exculpatory clause since it tries to relieve Metro City Mall from any possible damages that occur during the lease time.
In order for an exculpatory clause to be enforceable, it must be reasonable. The fact that Metro City Mall wants to be released from liability no matter who is at fault, makes the clause unreasonable.
The clause in question is most likely unenforceable because it attempts to absolve Metro City Mall from liability for negligence, which is generally against public policy.
The clause releasing Metro City Mall from liability in the event of monetary or physical injury no matter who is at fault is most likely unenforceable. Generally, such clauses are seen as attempts to avoid responsibility for negligence, which can be against public policy, especially if they are overly broad or unconscionable. In most jurisdictions, a party cannot be relieved of liability for their own negligence, particularly in cases where there is a public interest involved, such as safety. These types of clauses are often scrutinized by courts and can be struck down if found to be excessive in diminishing the rights or protections of a contracting party.
When economists and policymakers refer to the Fed's dual mandate, they are referring to:
A. price stability and maximum employment.
B. price stability and moderate long-term interest rates.
C. price and exchange rate stability.
D. moderate long-term interest rates and maximum employment.
Answer:
A) price stability and maximum employment.
Explanation:
When Congress enacted the Federal Reserve Act in 1913, they stated the FED's mandates:
promote maximum employmentpromote stable priceThe FED's main objective is to conduct monetary policy in order to stabilize the economy and promote economic growth.
By stabilizing the economy the FED will lower inflation rate, therefore stabilizing prices. When the FED promotes economic growth, the unemployment rate should decrease, hopefully reaching a full employment.
If a currency reform has no effects on the economy's real variables, why do governments typically institute currency reforms in connection with broader programs aimed at halting runaway inflation? (There are many instances in addition to the Turkish case mentioned in the text. Other examples include Israel's switch from the pound to the shekel, Argentina's switches from the peso to the austral and back to the peso, and Brazil's switches from the cruzeiro to the cruzado, from the cruzado to the cruzeiro, from the cruzeiro to the cruzeiro real, and from the cruzeiro real to the real, the current currency, which was introduced in 1994.)
Answer:
The correct anwer is There may be a psychological benefit in that currency reform can have a positive effect on inflation expectations. However, for the stabilization plan to succeed, it must be backed up by concrete policies to reduce monetary growth.
Explanation:
Monetary policy or financial policy is a branch of economic policy that uses the amount of money as a variable to control and maintain economic stability. It includes the decisions of the monetary authorities regarding the money market, which modify the amount of money or the interest rate. When it is applied to increase the amount of money, it is called an expansive monetary policy - quantitative expansion - and when it is applied to reduce it, a restrictive monetary policy.
Four basic objectives of monetary policy can be stated in different ways:
money value stability (price containment, inflation prevention); higher rate of economic growth; full occupation or full employment (highest possible level of employment); avoid permanent imbalances in the balance of payments and maintenance of a stable exchange rate and protection of the position of international reserves.One inherent risk to using lean philosophy is that companies are at higher risk of inventory shortage during volatile times such as strikes, weather, etc. than when using the traditional philosophy.True / False.
Answer:
True
Explanation:
As in the lean philosophy the production is based on specific customer demands, there are chances that when the order is received then the inventory required is not present and that the inventory is not held in hand.
Whereas in the traditional philosophy the production is based on the principle of budgets and sales forecast, accordingly the sales keeps on moving and the inventory is also held in hand prior to confirmation of order from customers.
Since there is no planning before the order is received from customers under lean, in emergency cases, or scarcity of resources, the inventory will fall short, and acquisition of inventory would not be easy.
Assume that the owners of the only gambling casino in Wisconsin spend large sums of money lobbying state government officials to protect their gambling monopoly. Economists refer to these expenditures as_________.
Answer: The correct answer is "rent-seeking".
Explanation: Economists refer to these expenditures as rent-seeking.
rent seeking occurs when an organization seeks to obtain income by capturing economic income through the manipulation or exploitation of the political or economic environment, instead of obtaining benefits through economic transactions and production of added wealth.
What interest led gauguin to give up his affluent lifestyle in search of simpler pleasures?
Answer:
"the Primitive"
Explanation:
Gauguin's interest in "the Primitive" led give up his affluent lifestyle in search of simpler pleasures of life.
Paul Gauguin a french impressionist artist was a greatly influenced by primivitism. So, he gave up his rich lifestyle to search for simple pleasures of life.
One way that criminal law differs from civil law is that it: provides remedies for violations of private rights. must yield a unanimous verdict. can have a jury of fewer than 12 persons. allows for various claims in one action.
Answer:
Criminal law "must must yield a unanimous verdict."
Explanation:
Civil law refers to a body of law protecting individual rights. It handles disagreement between people, or organizations.
Criminal law deals with crimes commited against the state or federal government by an individual who breaks a criminal law.
Most civil cases don't make it to trial and are settled outside the courts.
A criminal case on the other hand, requires a unanimous verdict from the jury and sentencing by the judge. Anyone who commits a crime is at the mercy of the court.
Average fixed costs______________.
A. will remain unchanged as output expands.
B. are defined as the change in total costs divided by the change in output.
C. will always increase as output increases.
D. will always decrease as output expands.
Answer:
D) Will always decrease as output expands
Explanation:
Average fixed costs are equal to fixed costs divided by output:
AFC = Fixed Costs / Output
If output increases, then average fixed costs will decrease, because the denominator of the formula will become larger. In other words, the same fixed costs will be enough to produce a higher amount of ouput.
Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each.
An Accountant would calculate the total profit for one birdhouse to be
A) $7
B) $12
C) $11
D) $15
Answer:
$15
Explanation:
Accounting profit is calculated as revenue less total cost.
Accounting profit = Revenue - Cost
$20 - $5 = $15
An accountant calculates accounting profit.
Dobry Die & Mold, Inc., enters into a contract with Chet's Refitting Service to fix Dobry's precisely engineered molding equipment. If Chet's delays the repair for five days, knowing that Dobry will lose a certain percentage of profit for the delay, Dobry might be awarded consequential damages toa. establish, as a matter of principle, that Chet's acted wrongfully.b. provide Dobry with funds for a foreseeable loss beyond the contract.c. provide Dobry with funds for its loss of the bargain.d. punish Chet's and set an example to deter others from similar acts.
Answer:
I suppose that when Dobry and Chet's entered a contract there was a time set for the reparations to begin, maybe not to end the repairs since that may vary, but at least to start working on them and try to do it fast.
If Chet's delayed their work and did not start repairing Dobry's equipment on time (5 days), then Dobry should be able to sue for consequential damages in order to recover money due to a foreseeable loss beyond the contract. If Dobry cannot operate its equipment then it cannot produce, so it is Chet's fault that their production is halted.
"The correct answer is b. provide Dobry with funds for a foreseeable loss beyond the contract.
In contract law, consequential damages are designed to compensate a party for losses that are a foreseeable consequence of the breach, but not directly caused by the breach itself. In this scenario, Dobry Die Mold, Inc. has suffered a loss due to Chet's Refitting Service's delay in repairing the equipment. This delay has resulted in a loss of profit, which is a foreseeable consequence of the breach of contract by Chet's.
a. Consequential damages are not primarily awarded to establish that a party acted wrongfully; that is more in line with nominal damages or punitive damages. The focus of consequential damages is on compensating the non-breaching party for actual losses.
b. This is the correct rationale for consequential damages. They are meant to compensate the non-breaching party (Dobry) for losses that were foreseeable at the time the contract was made, which in this case includes the loss of profit due to the delay.
C. Providing funds for the loss of the bargain would be compensating Debry for the difference between the value of the promised performance and the value of the performance actually received. This is more in line with expectation damages, not consequential damages.
d. While punitive damages can be awarded to punish a wrongdoer and deter others, consequential damages are not punitive in nature. They are compensatory, aiming to make the non-breaching party whole for losses that were a foreseeable result of the breach.
Therefore, the most appropriate choice is option b, which correctly identifies the purpose of consequential damages as providing funds to Dobry for a foreseeable loss beyond the contract itself, such as the loss of profits due to the delay in repairing the equipment."
An example of manufacturing overhead costs would be Group of answer choices a. direct material costs. b. factory production line wage costs. c. indirect material costs. d. utility costs for administrative offices. e. Both c and d.
Answer:
The correct answer is option c.
Explanation:
Manufacturing overhead cost can be defined as the indirect costs involved in the production of manufacturing a product. In other words, it is the cost incurred on the manufacturing operations of a firm, apart from direct material and labor cost.
The indirect material costs incurred on glue, tape, lubricants, lights, etc are overhead costs.
Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. A transfer of this right is________.
Answer:
an assignment
Explanation:
An assignment task happens when a party appoints their legally binding rights to a third party. It means that the advantage giving party would have gotten from the agreement is currently given to the outsider. The party giving their privileges is referred to as the assignor, while the party getting the rights is the chosen one. Basically, the assignor lean towards that the chosen one turns around jobs and accept the authoritative rights and commitments as expressed in the agreement.