West Virginia Code > Chapter 46 > Article 9 > Part 4 – Rights of Third Parties


46-9-401	Alienability of debtor’s rights
46-9-402	Secured party not obligated on contract of debtor or in tort
46-9-403	Agreement not to assert defenses against assignee
46-9-404	Rights acquired by assignee; claims and defenses against assignee
46-9-405	Modification of assigned contract

Contract: A legal written agreement that becomes binding when signed.
Lien: A claim against real or personal property in satisfaction of a debt.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.


46-9-406	Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective
46-9-407	Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest
46-9-408	Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective
46-9-409	Restrictions on assignment of letter-of-credit rights ineffective

Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Contract: A legal written agreement that becomes binding when signed.
County court: includes any existing tribunal created in lieu of a county commission. See West Virginia Code 2-2-10
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
Statute: A law passed by a legislature.