Carlos sold his business to Avi for $10000. Under their agreement, Avi was to pay Carlos $1000
Question:
Carlos sold his business to Avi for $10000. Under their agreement, Avi was to pay Carlos $1000 per month over a ten-month period. Commenting of March 21st of that year. Before the first payment was due, Carlos became indebted to Avi for $5000. Carlos then assigned the $10000 debt agreement to Malcolm. Notice of this agreement was given to Avi. When he discovered that he was to make all payments under the agreement to Malcolm, He informed Malcolm that he would not make a payment until August. He would then make only the five remaining payments under the agreement and consider the debt fully satisfied.
Discuss the right of Avi and Malcolm and the reasoning behind Avi's response to the Notice.
Business Law Principles and Practices
ISBN: 978-1133586562
9th edition
Authors: Arnold J. Goldman, William D. Sigismond