Mercantile T2

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Understanding Business Assignment and Credit

Welcome to the "Understanding Business Assignment and Credit" quiz! Test your knowledge on essential legal concepts related to business credit assignments and debtor relations. This engaging quiz is designed to enhance your understanding of key terms and frameworks used in the business environment.

10 challenging questions
Multiple choice answers
Instant feedback on your responses

10 Questions2 MinutesCreated by AnalyzingOrchid257

The “business refers to:

The organization of goods as a whole, of a material and immaterial nature

An organized set of components.

An organizational goal of obtaining economic profit.

All above

When “the business” is the object of a dealing, the unitary approach of the theory of enterprise declares:

Each of the elements of the enterprise has to be negotiated separately in accordance with their nature.

It is a “living organism”, the “creation” of the entrepreneur and, from that perspective, an object to be traded.

It is merely a juxtaposition of different elements of assets.

All the above.

In the assignment of credit, the debtor is not party to the assignment, which takes place between the creditors. Nevertheless:

� the debtor's knowledge for the assignment is convenient for the new creditor because the debtor is liberated if he pays the first creditor before obtaining knowledge of the assignment.

� debtor consent is not mandatory.

� debtor consent determines that the latter could oppose the exception of compensation he could have opposed to the assignor, to the new creditor.

All the above

In the assignment of credit, the original creditor is responsible:

For the existence of the credit at the moment of the assignment, unless it was sold as a doubtful claim.

For lawfulness of the credit at the moment of the assignment, unless it was sold as a doubtful claim.

For the public insolvency of the debtor previous to the assignment

All above.

In case of the assignments of credits, as far as the debtor is concerned:

He can oppose to the new creditor all the exceptions he could have opposed to the assignor

He cannot oppose any exceptions to the new creditor.

He can oppose only the exception of compensation to new creditor

None of the above.

The change of debtor can happen:

� without the first debtors' knowledge; but the agreement of the creditor is necessary for the primitive debtor to be liberated.

� but the agreement between debtors would only have effects within their internal relations

� but the primitive debtor shall still be the one bound to the creditor.

All above.

Contracts have to be transferred:

� with consent of not only the transferor and the transferee but also the outside party involved.

...only with the consent of the transferor and the transferee

...with the knowledge of the outside party involved

None of the above.

The duty of refrain competition:

Is wide to the extent it prevents the transferor from any possibility of commercial action

Does not have any limits.

Is aimed at not diverting the client or interfering in the acquires relationships during a fixed time, and the territory in which the transferor carried out his activity

All the above.

The contract of sale justifies the “title” of transfer but to operate the legal transmission of the business

The elements “title + modus” are necessary

The tradition or delivery (“modus”) is necessary

The delivery concludes the contractual efficacy

All of the above

The lessor in the lease contract concerning a business has an obligation to:

Deliver to the lessee the business constituting the subject matter of the contract

Perform there in during the lease any repairs required to preserve it in a condition to serve for the use to which it has been destined

Maintain the lessee in the peaceful enjoyment of the lease for the whole term of the contract

All of the above

Mercantile T2

Understanding Business Assignment and Credit

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