Valiant Construction Inc.has assigned its contractual right to payment from one of its customers to ABC Lumber Ltd.in order to satisfy its debt to ABC.Which of the following statements is correct?
A) Valiant Inc.is now released from its obligations to its client.
B) This arrangement must be consented to by Valiant's client in order to be legally enforceable.
C) This arrangement is valid even without the consent of Valiant's client.
D) ABC is liable to fulfill the contract in the event Valiant fails to do so.
Correct Answer:
Verified
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