Nassau Discount Corp. v. Allen

The resolution of the question whether defendant waived the right to assert any defenses against plaintiff assignee necessarily depends upon whether plaintiff acquired the contract in good faith and for value.

Good faith is a continuing requirement right up to the time the assignee parts with value. In view of the flagrant fraud which has been conceded in the stipulation, on this question there should be a full exploration of plaintiff’s involvement with the assignor’s method of selling in other prior transactions as *672well as with the instant one. Also the effect of the return of the coupon…