§ 13-105. Effect of transfer of claim or demand. Where a claim or
demand can be transferred, the transfer thereof passes an interest,
which the transferee may enforce by an action or special proceeding, or
interpose as a defense or counter-claim, in his own name, as the
transferrer might have done; subject to any defense or counter-claim,
existing against the transferrer, before notice of the transfer, or
against the transferee. But this section does not apply, where the
rights or liabilities of a party to a claim or demand, which is
transferred, are regulated by special provision of law; nor does it vary
the rights or liabilities of a party to a negotiable instrument, which
is transferred.