Karen borrows $10,000 from Celeste.Karen is to pay Celeste the principal amount,with 8 percent interest,over five years in 60 equal monthly payments.After one year of receiving proper payments from Karen,Celeste assigns this right to receive future payments to Larry.Who has the duty to notify Celeste about the assignment?

Question

Quizplus · Accepted Answer

Since Celeste assigned the right to receive payments to Larry, it becomes his responsibility to notify Celeste about the assignment. This is because he is now the new party receiving the payments, and it is important for Celeste to know that she should expect payment from Larry instead of Karen.

Karen Borrows $10,000 from Celeste