John Doe was injured in a job-related accident that resulted in a workers' compensation settlement agreement with
Question:
John Doe was injured in a job-related accident that resulted in a workers' compensation settlement agreement with the employer's insurance carrier, Metro Trev's Indemnity Company (Metro). The settlement agreement required Metro to pay Doe $2500 per month for the rest of his life. To finance its obligation, Metro purchased an annuity in its name. The settlement agreement required Metro's approval or written consent prior to an assignment of the annuity payments. Doe later decided to open a business and went to a credit union for a $214,000 loan. The credit union loaned the money, taking a security interest in Doe's monthly annuity payments. Metro's consent was never secured. Discuss the conditions in which a right may not be assigned and assess if this was a valid assignment.
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