An assignee is "subject to the equities," means that a negotiable instrument can never convey more than existed between the original parties.

Name: An assignee is "subject to the equities," means that a negotiable instrument can never convey more than existed between the original parties.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

A negotiable instrument can convey more than existed between the original parties because it is designed to be transferred free of prior claims or defenses, unlike an assignment which is subject to existing equities.

An Assignee Is "Subject to the Equities," Means That a Negotiable