Assignment of judgment-small claim $1200

[juanille]

The acknowledgement of assignment of judgment to a third party includes one paragraph as follows:
"THAT in exchange for valuable consideraion, receipt and sufficiency of which are hereby acknowledged, I, (my name), do hereby grant and convey all right, title and ownership of said judgement to: (third party)"

Now, I have signed a separate document called a "Judgment Agreement" which stipulates, among other things, the disbursement of amounts collected from the Debtor.

Then my question is if the paragraph in assignment of judgment about exchange for valuable consideration, etc. sort of supersedes the "Judgment Agreement". That is, I might not get anything back because I signed saying that I have already being compensated.

Thanks,
Juan.

 

[dee_dub]

Might not get anything back from whom?

As near as I can tell, one paragraph doesn't supersede the other; they work together. Under the judgment agreement, you're entitled to X. Under the assignment, you assign your right to X to the third party in exchange for them giving you Y. So you don't collect anything under the judgment. You collect Y from the third party.

 

[juanille]

Thanks for the reply dee_dub. But let me clarify. X and Y are agreements with the same person, that is the third party. So all I want to know if the assignment nullifies the judgment agreement. This is because the assignment wording sort of indicates that Ii have already received valuable consideration, receipt, and sufficiency. The judgment agreement specifies I'll be getting 60% of all monies, which is fine with me.

Thanks,

Juanille.

 

[dee_dub]

Without knowing the full text of the agreement and assignment, anything I say is purely speculative.

From what I understand so far, I don't know why you're even concerned about the agreement being nullified. What difference does it make to you? I would think that what you need to worry about is receiving whatever consideration you are entitled to under the assignment. Whether the agreement is nullified by the assignment is of no consequence to you, since you're bargaining it away anyways.

If you want my opinion, I suspect the assignment does not nullify the agreement. Technically, the assignee could still collect on it. But practically, since the assignee and the subject of the agreement are the same person, he would be collecting against himself.

 

[juanille]

Hi dee_dub, the assignment all it says is what I said before: "In exchange for valuable consideration, receipt and sufficency, etc., etc." It doesn't say anymore. The judgment, on the other hand, is the one that talks about me receiving something.

So, they could always say that I already have received something "valuable" and don't pay anything even if they collect $$.

Juanille

 

[dee_dub]

Back up. What judgement did you receive, against whom, for what?

What is the judgment agreement, why did you enter into it, whom is it with, and what did you agree to? What are you entitled to and obliged to under the agreement, what are the other parties entitled to or obliged to?

Why are you assigning it, to whom are you assigning it, and for what? (And don't say "for valuable consideration". What is that consideration?)