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Question: The Federal Deposit Insurance Corp. (FDIC) assigned a note executed by Donald Gerard to Federal Financial Company (FFC). FFC sued Gerard on the note more than six years after it was due. The statute of limitations on notes was six years. By federal law, the FDIC had a longer statute of limitations, and the suit was brought within that time. FFC argued that as the assignee of the FDIC, it had the FDIC's rights including the longer statute of limitations. Does it?

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Management Theories, Management Studies

Category:- Management Theories
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