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§12A-9-206.
§12A-9-206.
Agreement Not to Assert Defenses Against Assignee; Modification of
Sales Warranties Where Security Agreement Exists.
(1) Subject to any statute or decision which establishes a different
rule for buyers or lessees of consumer goods, an agreement by a buyer
or lessee that he will not assert against an assignee any claim or
defense which he may have against the seller or lessor is enforceable
by an assignee who takes his assignment for value, in good faith and
without notice of a claim or defense, except as to defenses of a type
which may be asserted against a holder in due course of a negotiable
instrument under the article on Negotiable Instruments (Article 3). A
buyer who as part of one transaction signs both a negotiable
instrument and a security agreement makes such an agreement.
(2) When a seller retains a purchase money security interest in goods
the Article on Sales (Article 2) governs the sale and any disclaimer,
limitation or modification of the seller's warranties.
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