§ 34.1-9-403 — Agreement not to assert defenses against assignee

Wyoming § 34.1-9-403

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

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(a) In this section, "value" has the meaning provided in
section 34.1-3-303(a).
(b) Except as otherwise provided in this section, an
agreement between an account debtor and an assignor not to
assert against an assignee any claim or defense that the account
debtor may have against the assignor is enforceable by an
assignee that takes an assignment:
(i) For value;
(ii) In good faith;
(iii) Without notice of a claim of a property or
possessory right to the property assigned; and
(iv) Without notice of a defense or claim in
recoupment of the type that may be asserted against a person
entitled to enforce a negotiable instrument under section
34.1-3-305(a).
(c) Subsection (b) does not apply to defenses of a type
that may be asserted against a holder in due course of a
negotiable instrument under section 34.1-3-305(b).
(d) In a consumer transaction, if a record evidences the
account debtor's obligation, law other than this article
requires that the record include a statement to the effect that
the rights of an assignee are subject to claims or defenses that
the account debtor could assert against the original obligee,
and the record does not include such a statement:
(i) The record has the same effect as if the record
included such a statement; and
(ii) The account debtor may assert against an
assignee those claims and defenses that would have been
available if the record included such a statement.
(e) This section is subject to law other than this article
which establishes a different rule for an account debtor who is
an individual and who incurred the obligation primarily for
personal, family or household purposes.
(f) Except as otherwise provided in subsection (d), this
section does not displace law other than this article which
gives effect to an agreement by an account debtor not to assert
a claim or defense against an assignee.