If a negotiable instrument is ____, the assignee has the same contract rights and responsibilities as the assign-or.

Question

Quizplus · Accepted Answer

When a negotiable instrument, such as a check or promissory note, is assigned, the assignee becomes the new owner of the instrument and has the same rights and responsibilities under the contract as the assignor. This means that the assignee can enforce the instrument against the original debtor and has the same rights to any defenses or claims that the assignor had.

If a Negotiable Instrument Is ____, the Assignee Has the Same