Action against assignor by assignee, when.

Mo. Rev. Stat. § 431.170
in effect
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431.170. Action against assignor by assignee, when. — The assignee of a bond, nonnegotiable note or account, may maintain an action against the assignor, upon failure to obtain payment from the obligor, maker or debtor, only in one of the following cases: (1) If he use due diligence in the institution and prosecution of a suit against the obligor, maker or debtor, for the recovery of the money or property due, or damages in lieu thereof; (2) If the obligor, maker or debtor is insolvent, or is not a resident of this state, so that a suit would be unavailing or could not be instituted. (RSMo 1939 § 3347) Prior revisions: 1929 § 2960; 1919 § 2162; 1909 § 2776
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneSection.aspx?section=431.170Fetched: 10/17/2026