ASSIGNMENT OF BUSINESS RECEIVABLES - L. Jan 2., 1981
By a judgement of February 8, 1994, the commercial division of the Court of Cassation (France's highest non-administrative court) judged that, in the event of the assignment of a receivable in the form provided for by the law of January 2, 1981 (the Loi Dailly), which is not accepted by the debtor, the debtor may raise as a defence against the bank, to which the receivable was transferred, the non-performance of the obligations of the assignor or the set-off of the debtor's debt against a receivable owed to the debtor and related to the transferred receivable, even if the non-performance or the set-off arose after the notification of the assignment.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. For additional information contact Claire Acard or Joseph Smallhoover on 33/(1)/55 61 10 10 or enter text search: "Archibald Andersen", and "Business Monitor". The members of Archibald Andersen Association d'Avocats (S.G. Archibald and Arthur Andersen International) are registered with the Hauts-de-Seine Bar and the Lyon Bar.