Legal Question in Credit and Debt Law in California

Debt assignment

Does an orginal note have to contain an assignment clause for that note to be assigned? If it does not, can the note be assigned without the consent of the endorsor? Are there any court cases, Case Law, where the defendant won because he had not consented to the assignment of a note?

Please advise.


Asked on 1/15/04, 1:42 am

2 Answers from Attorneys
Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

Honesty

I can help you, but you need to fomally retain me. Need more facts as well, I mean what kind of note? What's the duration? Is this real estate? Is this a car? All of these things matter a lot.

Visit my website at www.christopherbrainard.com

You may contact me at 310-266-4115.

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Answered on 1/15/04, 11:58 am
Ken Koenen Koenen & Tokunaga, P.C.

Re: Debt assignment

Generally, a promisory note is considered a negotiable instrument, and can be assigned or sold to a third party.

There are very specific situations where it cannot be, but they are few.

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Answered on 1/15/04, 12:08 pm


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