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Revocability of Assignment: Definition & Explanation

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What happens when a party relies on a gratuitous promise to their substantial detriment?

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1. Which of the following is a true statement regarding assignments?

2. An assignor can revoke an assignment by:

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About This Quiz & Worksheet

This quiz and worksheet will help gauge your understanding of the revocability of assignment. Topics on the quiz include donative assignment and assignors.

Quiz & Worksheet Goals

These tools will assess your knowledge of the following:

  • What happens when a party relies on a gratuitous promise to a substantial detriment
  • How assignors can revoke assignments
  • Effect of death or bankruptcy of the assignor on the assignment
  • Revocation of a donative assignment

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related business law lesson
  • Interpreting information - verify that you can read information regarding the enforcement of a promise and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the revocability of assignment

Additional Learning

To learn more, review the lesson Revocability of Assignment: Definition & Explanation, which covers the following objectives:

  • Identify a contract assignment
  • Differentiate the assignor and the assignee
  • Understand irrevocable and revocable
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