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The assignee of a negotiable instrument receives only those rights that the assignor had before the assignment.
Assignee
The individual or entity to whom rights or property are legally transferred.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer name either mentioned or implied.
Rights
Entitlements or permissions granted to individuals or entities, legally or ethically, to perform certain actions or to be in a particular state.
- Recognize the positions and responsibilities of the stakeholders in the process involving the issuance, transmission, and payment of negotiable instruments.
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Learning Objectives
- Recognize the positions and responsibilities of the stakeholders in the process involving the issuance, transmission, and payment of negotiable instruments.
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