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Code · Kentucky · Chapter 371 — Formality and assignability of contracts -- installment sales contracts

371.040 Bonds, bills and notes assignable -- Effect of assignment.

67 words·~1 min read·/ky/chapter-371/371-040

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

All bonds, bills or notes for money or property are assignable so as to vest the right of action in the assignee; but, except in the case of negotiable instruments, the assignment shall not impair the right to any defense, discount or set-off that the defendant has and might have used against the original obligee, or any intermediate assignor, before the defendant received notice of the assignment.
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