Question

Electronics, Inc., sells 250 radios on credit at $20 apiece to Radio Land Retail. Electronics then sells its rights under the contract to Manufacturers' Credit Co. When the payment becomes due, Manufacturers' Credit collects the $5,000 owed to Electronics by Radio Land. This transaction is controlled by the law of _____.

Answer 1

Answer: Assignment

Explanation:

Law of Assignment is the law governing the transfer of property rights or title from one person or organisation to another. It's requires the agreement of both parties and it is usually put into writing and and signed. For example, the owner of a trademark may decide to transfer or sell it out to another person or organisation if both parties can reach an agreement.