What Does the English Rule for Successive Assignments Provide

question 57

Multiple Choice

What does the English Rule for successive assignments provide?

• A)The first assignment in time prevails, regardless of notice.
• B)The first assignment in time prevails, pending notice.
• C)The first assignee to give notice to the obligor prevails.
• D)The first assignee who receives a tangible token prevails.

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Definitions:

No-par Common Stock

A type of common stock that does not have a par value assigned, representing an ownership interest in a corporation.

Stated Value

A value assigned to a share of stock by the corporation’s board of directors, which is an arbitrary value used for accounting purposes.

Par Common Stock

The value assigned to a share of common stock in the company's charter, not indicative of the market value.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often with predetermined dividend payments.