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pleae help 7. Now, let us revisit out friend Richard,...

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Accounting

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7. Now, let us revisit out friend Richard, whom we met in question 2. Suppose instead of buying the used Mazda CX-5, Richard instead bought from Smith Rock's Rocking Used Cars a 2017 Jaguar F- Pace on credit for $30,000. To settle some old gambling debts, Smith then assigned to Bruno all his rights to receive money from Richard. Neither Smith nor Bruno informed Richard of the assignment at the time that it is was made. Therefore, Richard continued to make his required monthly loan payments directly to Smith. After about six months, Smith left the country for the Bahamas with the money. If Bruno then sues Richard for the missing six payments (A) Bruno will not be able to collect the money from Richard; (B) Bruno will be able to collect the money from Richard; (C) Richard is liable for the six monthly payments because Bruno paid consideration for the assignment through the forgiveness of Smith's gambling debts; (D) Richard cannot raise the defense of previous payment. Explanation

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