Ky. Rev. Stat. § 371.040

Current through 2024 Ky. Acts ch. 225

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

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.

KRS 371.040

Effective:10/1/1942 Recodified 1942 Ky. Acts ch. 208, sec. 1, effective10/1/1942, from Ky. Stat. sec. 474.