Karen borrows $10,000 from Celeste. Karen is to pay Celeste the principal amount, with 8 percent interest, over the next 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 Karen about the assignment?

Question

Quizplus · Accepted Answer

As Celeste assigned the right to receive future payments to Larry, he is responsible for notifying Karen about the assignment. However, Celeste may also choose to notify Karen as a courtesy.

Karen Borrows $10,000 from Celeste