Section 540.03 Action by Assignee; Setoff Saved; Exception
540.03 ACTION BY ASSIGNEE; SETOFF SAVED; EXCEPTION.
If a thing in action be assigned, an action thereon by the assignee shall be without prejudice to any setoff or defense existing at the time or before notice of the assignment; but this section does not apply to negotiable paper, transferred in good faith and upon good consideration before due.
History:
(9166) RL s 4054