TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 21

INDORSEMENT OF NONNEGOTIABLE INSTRUMENTS

28-21-101.  Indorsement of written contract. A nonnegotiable written contract for the payment of money or personal property may be transferred by indorsement, in like manner with negotiable instruments. Such indorsement transfers all the rights of the assignor under the instrument to the assignee, subject to all equities and defenses existing in favor of the maker at the time of the indorsement.

History:

[(28-21-101) R.S., sec. 3600; reen. R.C. & C.L., sec. 3654; C.S., sec. 6063; I.C.A., sec. 26-1801.]