#130:Â Secured Lenders' Rights to Construction Contract Payments
NH Construction Law
OCTOBER 22, 2023
The Uniform Commercial Code, enacted in all fifty states, favors the lender here, but also provides that paying the lender discharges the account debtor’s payment obligation to the contractor or subcontractor (called the “assignor” in this context). .” Reading Cooperative Bank v. Suffolk Construction Co. ,
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