25-303. Assignee; defenses and counterclaims available.

An action by the assignee of a thing in action shall be without prejudice to any counterclaim or defense existing between the original parties; but this section shall not apply to negotiable bonds, promissory notes, or bills of exchange, transferred in good faith, and upon good consideration before due.

Source:R.S.1867, Code § 31, p. 398; R.S.1913, § 7584; C.S.1922, § 8527; C.S.1929, § 20-303; R.S.1943, § 25-303.