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July 15th, likaborrows $100,000.00 from webster Bank to buy a house. lilasigns a promissory note and a mortgage to webster Bank as evidence that webster
July 15th, likaborrows $100,000.00 from webster Bank to buy a house. lilasigns a promissory note and a mortgage to webster Bank as evidence that webster Bank loaned herthe moneylila's first payment is to be made by September 1st. Before shemakes herfirst payment on the note, websterBank, on July 31st, assigns all of its rights to XYZ Co. Both webster Bank and XYZ Co. give notice of the assignment to lila, and lilareceives that notice on August 10th. XYZ Co. on August 28th then assigns all of its rights to State Mortgage Company, but doesn't send to lilanotice of the assignment to State Mortgage Company. lilamails herfirst payment on September 1st. To whom does lila send the payment? A) National Capital Bank. B) XYZ Co. C) State Mortgage Company. D) None of the above, because a note and a mortgage cannot be assigned
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