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ALTERNATIVE ANSWER:
No, the defense of Peter Co will not prosper. Hadji Butu
validly acquired his right by an assignment of credit under
Article 1624 of the Civil Code. However, the provisions on
the contract of sale (Article 1475 Civil Code) will apply, and
the transaction is covered by the Statute of Frauds. (Art.
1403 par. (2) Civil Code)