Article 28 of the Uniform Commercial Code

Article 28 of the Uniform Commercial Code (UCC) deals with the rules regarding the transfer or assignment of rights under a contract, such as a security interest. It states that an assignment generally doesn’t affect the original debtor’s obligations unless the debtor is notified of the transfer. The article clarifies when and how an assignment is effective, emphasizing the importance of proper notice to ensure all parties are aware of the change in rights. Essentially, it ensures clarity and fairness in transferring financial interests or rights under commercial agreements.