Simone is twenty-seven years old and going back to college a…

Simone is twenty-seven years old and going back to college as a French horn performance major. She has a French horn valued at $4,000, which she has been paying for in installments. Simone’s parents offer to make the payments while Simone is in college. To show her appreciation, Simone goes to the paint store, buys ten gallons of paint, and paints the summer cabin her parents rent each summer from Simone’s aunt and uncle. Before Simone leaves for college, her parents decide they want to keep her car, and Simone assigns her auto loan to her parents.   By assigning the auto loan to her parents, Simone is the assignee and her parents are the assignors