Question
Roller Riders and Equipment (RR&E) leased bicycle equipment from Bob's Leasing. The lease said nothing about assignment. Bob's Leasing then assigned the lease to TBA
Roller Riders and Equipment (RR&E) leased bicycle equipment from Bob's Leasing. The lease said nothing about assignment. Bob's Leasing then assigned the lease to TBA as security for a loan. Bob's Leasing defaulted on its loan, and RR&E failed to make several payments on the lease. TBA sued RR&E for the lease payments. Was the assignment valid, given the fact that the original lease made no mention of it?(Explain whyor why not) If the assignment was valid, may RR&E raise defenses against TBA that it could have raised against Bob's Leasing? (Explain your answer).
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