SU 2 Chapter 13 - Cession Flashcards
(9 cards)
What is Cession?
Transfer of claim or personal right by one person to another.
Who is the cedent?
Person transferring right.
Who is the cessionary?
Person receiving right from cedent.
When is cession possible?
Always, unless prohibited by Statute, common law or contract.
Is consent of debtor needed for valid cession?
No, only if there is no prejudice against debtor.
When can someone not bed ceded?
If right so inextricable with identity of creditor that performance to another person will change nature of the obligation.
What happens if debtor doesn’t know who his real creditor is and performs in good faith to cedent?
It will be as good as performance is cessionary.
How does transfer of rights work with cedent to cessionary?
Cedent can never transfer more rights to the creditor than he had himself.
What does the debtor retain in terms of defence?
Every defence he had against the cedent.
