When a negotiable instrument is assigned, the transferee has the rights of the transferor.

Name: When a negotiable instrument is assigned, the transferee has the rights of the transferor.
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According to the principle of negotiability, the transferee of a negotiable instrument has the same rights as the transferor, unless the transferor had defective title or there was a breach of warranty. This is called the doctrine of "holder in due course".

When a Negotiable Instrument Is Assigned, the Transferee Has the Rights