Code of Virginia § 8.01-13. Assignee or beneficial owner may sue in own name; certain discounts allowed.
139 words·~1 min read·
/va/title-8-01/chapter-2/8-01-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The assignee or beneficial owner of any bond, note, writing or other chose in action, not negotiable may maintain thereon in his own name any action which the original obligee, payee, or contracting party might have brought, but, except as provided in § 8.9A-403 , shall allow all just discounts, not only against himself, but against such obligee, payee, or contracting party, before the defendant had notice of the assignment or transfer by such obligee, payee, or contracting party, and shall also allow all such discounts against any intermediate assignor or transferor, the right to which was acquired on the faith of the assignment or transfer to him and before the defendant had notice of the assignment or transfer by such assignor or transferor to another.
Code 1950, § 8-94; 1964, c. 219; 1966, c. 396; 1977, c. 617.