Chapter II: Bond transactions

The assignment of a claim is a contract by which the assigning creditor transfers, for valuable consideration or free of charge, all or part of his claim against the assigned debtor to a third party called the assignee. It may relate to one or more present or future, determined or determinable claims. It extends to the accessories to the claim. The debtor’s consent is not required, unless the claim has…

The assignment of a claim must be recorded in writing, failing which it will be null and void.

As between the parties, the transfer of the claim, present or future, takes place on the date of the deed. It may be relied on as against third parties from that moment. In the event of a dispute, proof of the date of the transfer lies with the assignee, who may prove it by any means. .

The assignment may only be set up against the debtor, if he has not already consented to it, if he has been notified of it or if he has taken note of it. The debtor may raise against the assignee the defences inherent in the debt, such as nullity, the defence of non-performance, resolution or set-off of related debts. He may also raise defences arising from his dealings with the…

A contest between successive assignees of a claim is resolved in favour of the first in date; he has recourse against the person to whom the debtor would have made a payment.

A person who assigns a claim for consideration guarantees the existence of the claim and its accessories, unless the assignee acquired it at his own risk or knew of the uncertain nature of the claim. He is liable for the debtor’s solvency only when he has undertaken to do so, and up to the amount of the price he was able to obtain from the assignment of his claim. Where…