Question

What action must the assignee take upon accepting an assignment of receivables that serve as security for a loan from a bank or creditor, provided the assignor has given notice of the encumbrance to the assignee as per the Factoring Regulation Act?

A The assignee must reject the assignment
B The assignee must pay the consideration directly to the assignor
C The assignee must notify the bank or creditor of the assignment
D The assignee must seek legal counsel before proceeding
E The assignee must pay the consideration to the bank or creditor
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