Kentucky Statutes 371.040 – Bonds, bills and notes assignable — Effect of assignment
Current as of: 2024 | Check for updates
|
Other versions
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.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 474.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 371.040
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 474.