R.I. Gen. Laws
Rhode Island General Laws

R.I. Gen. Laws § 6A-9-403 (2026)

Agreement not to assert defenses against assignee

✓ current as of July 2026
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(a) “Value.” In this section, “value” has the meaning provided in § 6A-3-303(a).

(b) Agreement not to assert claim or defense. Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment:

(1) For value;

(2) In good faith;

(3) Without notice of a claim of a property or possessory right to the property assigned; and

(4) Without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under § 6A-3-305(a).

(c) When subsection (b) not applicable. Subsection (b) does not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under § 6A-3-305(b).

(d) Omission of required statement in consumer transaction. In a consumer transaction, if a record evidences the account debtor’s obligation, law other than this chapter requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and the record does not include such a statement:

(1) The record has the same effect as if the record included such a statement; and

(2) The account debtor may assert against an assignee those claims and defenses that would have been available if the record included such a statement.

(e) Rule for individual under other law. This section is subject to law other than this chapter which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.

(f) Other law not displaced. Except as otherwise provided in subsection (d), this section does not displace law other than this chapter which gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.

Notes of Decisions
Cited in 2 cases, 1975–1981 · leading case: Thorp Credit Inc. v. Nason (In Re Nason), 13 B.R. 984 (Bankr. D.R.I. 1981).
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Thorp Credit Inc. v. Nason (In Re Nason), 13 B.R. 984 (Bankr. D.R.I. 1981). · cites it 2× “A financing statement is effective for a period of five (5) years from the date of filing, R.I. Gen Laws § 6A-9-403, or until a termination statement is filed, § 6A-9-404.”
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). · cites it 2× “The terms of the certified question make it clear that petitioners not only filed their financing statements within the meaning of § 6A-9-403(1), but also filed them in the proper place under § 6A-9-401(1)(c).”
— R.I. Gen. Laws § 6A-9-403(1) — 1 case
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). “The terms of the certified question make it clear that petitioners not only filed their financing statements within the meaning of § 6A-9-403(1), but also filed them in the proper place under § 6A-9-401(1)(c).”
— R.I. Gen. Laws § 6A-9-403(l) — 1 case
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). “The terms of the certified question make it clear that petitioners not only filed their financing statements within the meaning of § 6A-9-403(1), but also filed them in the proper place under § 6A-9-401(1)(c).”
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