Logan borrows $150,000 from Ready Money Credit & Debit to buy new equipment for Logan's Steakhouse. When Logan does not pay the loan, Ready Money wants to transfers the right to the payment to Action Collection Agency. Action Collection agrees to pay Ready Money for this right, but for a price that is less than the amount owed. Can Ready Money transfer this right to Action Collection without Logan's consent? If so, and Ready Money committed fraud in the deal with Logan, could Logan legitimately refuse to pay Action Collection? Explain.

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The Answer of Logan borrows $150,000 from Ready Money Credit & Debit to buy new equipment for Logan's Steakhouse. When Logan does not pay the loan, Ready Money wants to transfers the right to the payment to Action Collection Agency. Action Collection agrees to pay Ready Money for this right, but for a price that is less than the amount owed. Can Ready Money transfer this right to Action Collection without Logan's consent? If so, and Ready Money committed fraud in the deal with Logan, could Logan legitimately refuse to pay Action Collection? Explain.

Logan Borrows $150,000 from Ready Money Credit & Debit to Buy