Ask Reggi Your Question Now
Can you summarize NHRS 382-A:9-404?
UNIFORM COMMERCIAL CODE > Rights Acquired by Assignee; Claims and Defenses Against Assignee.
Short Summary
This section of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code (Chapter 382-A), governs the rights acquired by an assignee and the claims and defenses that can be made against the assignee. The rights of an assignee are subject to the terms, claims, and defenses of the agreement between the account debtor and assignor, as well as any other defense or claim of the account debtor against the assignor that arises before the account debtor receives a notification of the assignment. However, an account debtor’s claim against an assignor can only be asserted against an assignee to reduce the amount owed. This section does not apply to assignments of health-care-insurance receivables. No specific penalties are mentioned in this section.
Whom does it apply to?
Account debtors and assignees involved in commercial transactions
What does it govern?
Rights Acquired by Assignee; Claims and Defenses Against Assignee
What are exemptions?
This section does not apply to an assignment of a health-care-insurance receivable.
What are the Penalties?
No penalties mentioned.
Jurisdiction
New Hampshire