Section 8-5-25

Contracts, writings and paper circulated as money subject to payments, setoffs and discounts prior to notice of assignment.

All contracts and writings, except such as are governed by the Uniform Commercial Code, and paper issued to circulate as money, are subject to all payments, setoffs, and discounts had or possessed against the same previous to notice of an assignment or transfer.

(Code 1852, §1531; Code 1867, §1839; Code 1876, §2100; Code 1886, §1765; Code 1896, §879; Code 1907, §5161; Code 1923, §9237; Code 1940, T. 39, §206; Acts 1965, No. 549, p. 811.)