Payments from customers to financing company for cash

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Reference no: EM132179616

1. Sally has an exclusive shop in New York City where she sells hand-carved desks make by Joe from Kentucky. Sally has an output contract with Joe under which she has purchased four desks a quarter for years. After Joe’s untimely death, Joe’s son-in-law automates the desk production. When the truck drives up with 100 desks instead of four, Sally will have to purchase all 100 desks because it is an output contract. True or false

2. A contract that contains language stating that any assignment is “void unless approved in writing” by the parties may still be assigned “anyway” giving rights to a third party even though such consent was not obtained. True False

3. A business (“Business”) selling goods “on time” can generally assign its right to receive payments from customers to a financing company for cash. True or False

Reference no: EM132179616

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