Lender's Security Interest In Credit Card Receivables Was Subject To Terms Of The Underlying Contract And The Account Debtor's Claims And Defenses

LexisNexis (September 30, 2016, 4:54 PM EDT) -- Accounts receivable have been called "precarious collateral" because the assignee is subject to all terms of the underlying contract, and the account debtor has a right to refuse payment to the...

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