Payment For Due Course In Los Angeles
Category:
State:
Multi-State
County:
Los Angeles
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is essential for documenting the transfer of rights to collect a specific debt. This form is particularly tailored for use in Los Angeles, allowing the Assignor to assign their interest in a debt to an Assignee effectively. Key features include a clear description of the debt being assigned, which must detail the nature and amount of the debt and the due date. The document establishes that it is a non-recourse assignment, indicating that the Assignee assumes responsibility for collection without recourse to the Assignor. Filling out the form requires both parties to provide their names, the specifics of the debt, and to sign the document for validation. This form proves beneficial for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants as it provides a structured method to formalize debt assignments, ensuring legal clarity and protecting the interests of both parties involved. Use cases may include transferring accounts receivable, liquidating assets, or resolving outstanding debts in a business context.
