Due Payment For Meaning In Ohio
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment Of Money Due is a legal document utilized in Ohio to formally assign a debt from one party (the Assignor) to another (the Assignee). This form is particularly relevant in scenarios where an individual or business grants rights to collect a specific amount due, detailing the nature of the debt, the amount, and the due date. Importantly, this form indicates that the assignment is non-recourse, meaning the Assignee must assume full responsibility for collecting the debt without recourse to the Assignor. This document is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it clarifies rights and obligations regarding debts. Key features include clear identification of parties, a description of the debt, and warranty provisions that protect the Assignee. Users should complete the form by filling in the required details and ensure it is executed and dated appropriately. It serves practical use cases such as transferring debt collections, financing arrangements, or settling accounts receivable. Understanding the structure and implications of this form can aid legal professionals in advising their clients effectively.
