Joe received a cheque from Sam for work he had done painting Sam's house, and Joe passed that cheque to Harry. Harry took it, not knowing that the work done was defective. Because of the principle that an assignee of contractual rights is in no better position than an assignor, Harry would not be able to demand payment on that cheque from Sam." Discuss the accuracy of this statement.

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It is incorrect Negotiable instruments are an exception to this rule ... View the full answer