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Law Series (Volume 1-8)

Law Series (Volume 1-8)


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This historic book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1913. Not illustrated. Excerpt: ... seemed to be then in force, did not expressly so provide. Later it was held 22 that the statute required an assignment in writing signed by the assignor, but this was after the revision of 1845, which amended section 2 to read: ..". assignable by an endorsement on such bond or promissory note, etc." It was also held, although the statute said the assignee "may" sue in his own name, that the provision was mandatory, and suit could no longer be brought by the assignor in cases covered by the statute.23 Before the statute was passed the law was well settled everywhere that the assignee of a non-negotiable 24 chose in action took subject to any defense which the obligor had against the assignor before notice of assignment.26 This, of course, was a natural holding; the assignee having only a power of attorney to collect from the obligor, could recover no more than his principal, the assignor, could have recovered. Sections three and four, and the latter part of section five of the statute were thus declaratory of the common law in preserving these defenses. On the other hand, it was well settled at common law before the statute that from the moment of notice to the obligor of the assignment the obligor's duty was to pay to the assignee; and if in violation of that duty he paid to the assignor, the assignee could either make the obligee pay again or compel the obligor to account for what he had thus wrongfully received. It is likely that the legislature thought that they were preserving the substantive law on this point in the first part of section five: "It shall not be in the power of the assignor after 22. Ashworth v. Crockett (1848) 11 Mo. 636. 23. Jeffers v. Oliver to use of Bryans (1838) 5 Mo. 433. 24. The statute of 1835 also had provisions placing neg...


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Product Details
  • ISBN-13: 9781153900751
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 180
  • Spine Width: 10 mm
  • Width: 189 mm
  • ISBN-10: 1153900750
  • Publisher Date: 09 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 385 gr


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