Which statement regarding assignment is accurate?
A)Gratuitous assignments are generally revocable regardless of whether they are oral or written.
B)An assignment for consideration is irrevocable.
C)An assignment becomes valid when the obligor receives notice of the assignment.
D)An assignment must be written and follow all legal formalities.

Question

Quizplus · Accepted Answer

An assignment for consideration is irrevocable because the assignor has received something of value in exchange for the assignment, creating a binding obligation.

Which Statement Regarding Assignment Is Accurate