Which of the following is true regarding oral assignments?
A)Assignments may not be made orally.
B)The Uniform Commercial Code requires that assignments be in writing when the amount being assigned is greater than $5,000.
C)Assignments are not covered by the statute of frauds.
D)The Uniform Commercial Code requires that assignments be in writing when the amount being assigned is greater than $500.
E)The Uniform Commercial Code requires that an assignment of a right to receive goods be in writing when the value of the goods is $500 or more,and that an assignment of a right to receive a service be in writing when the value of the service is $1,000 or more.

Question

Quizplus · Accepted Answer

Although as a general rule assignments may be given orally or in writing,the Uniform Commercial Code requires that assignments be in writing when the amount being assigned is greater than $5,000.

Which of the Following Is True Regarding Oral Assignments