Please read the Module Notes prior to completing the assigned questions. Please complete all homework below using the IRAC Method (review the example posted in the Week One Module for IRAC format). Issue; Rule of Law; Analysis; Conclusion 1. Paul took out a loan from Citizen's Bank in order to make renovations to his home. The loan required Paul to repay the loan in equal monthly payments over the next five years. The loan also contained a provision for repayment of the outstanding amount if Paul missed two months of regular payments. After the loan was issued; Citizen's assigned the rights to Paul's loan to Bank of America and notified Paul of the assignment. One year later Paul missed payments for two months and Bank of America sued to collect the outstanding balance. Paul refused to pay Bank of America claiming he had not agreed to the transfer. What is the outcome