DCC 34/1999
Type
Case
Court
Dubai Court of Cassation
Jurisdiction
Dubai, United Arab Emirates
Taxonomy
Lending & Security
Copyright
LexisNexis
Decision date
1 May 1999
Catchwords
Cheques – Assignment – Debtor – Bank – Notification
This case looked at the issue of the assignment of cheques which had been marked ‘not negotiable' and ‘account payee' only. Under UAE law assignment was valid once agreed by the assignee and assignor. However, assignment is valid in favour of a beneficiary even if the debtor was not aware of the assignment unless the debtor can prove bad faith.
Background