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Party A has a promissory note from party that states that…

party A has a promissory...
party A has a promissory note from party B that states that party B owes party A 100k. Can party B buy goods from party C and then assign the promissory to party C as a payment for these goods?
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Answered in 5 minutes by:
8/18/2017
Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 42,093
Experience: 17 years practicing attorney, JD, BA, MBA
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Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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You may also be offered a phone call, but those don’t come from me and are offered by JustAnswer and you are under no obligation to accept.

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Can party B buy goods from party C and then assign the promissory to party C as a payment for these goods?

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No, because B was the one who gave the Note to A... A owns the Note..

.

But if you mean can A assign the Note to C, if there is nothing stated in the Note that says it is not assignable, and C is willing to accept the assignment of the Note for the goods, then A can legally assign the Note to C in writing.

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.

thanks

Barrrister

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Customer reply replied 10 months ago
sorry I reversed it. I meant "can party A buy goods from party C".

No worries, that is what I thought you meant so that is why I answered it that way in the second paragraph..

Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 42,093
Experience: 17 years practicing attorney, JD, BA, MBA
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