Plante owed Premo Oil Company $350. Premo Oil Company assigned its right to the debt to Budget Finance Company on March 10. On March 11, Plante paid Premo Oil Company $200. On March 14, Plante received notification of the assignment by mail. When Budget Finance attempted to collect the $350, Plante refused to pay more than $150. Must Plante pay Budget Finance Company $350?
A) Yes; rights to money are assignable and are binding as soon as the assignment agreement is made.
B) Yes; rights to money are assignable and are binding as soon as the assignment agreement is recorded in the proper office.
C) No; rights to money are assignable but are not binding until the debtor agrees to the assignment.
D) No; rights to money are assignable but are not binding until the debtor is properly notified of the assignment.
Correct Answer:
Verified
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