Elin Owes Floyd $10,000

question 7

Multiple Choice

Elin owes Floyd $10,000. Floyd assigns the claim to Gary. Gary does not notify Elin of the assignment. Later, Floyd assigns the same claim to Holly. Holly immediately notifies Elin of the assignment. Holly has priority to payment in

• A)all states.
• B)states that follow the English rule.
• C)no state.
• D)most states.

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Definitions:

Financial Institutions

Organizations that conduct financial transactions such as investments, loans, and deposits. Common examples include banks, credit unions, and insurance companies.

Anonymously

Acting or producing something without revealing one's identity.

Federal Deposit Insurance Corporation

A U.S. government agency created to maintain stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions for safety, and managing receiverships.

Federal Registration

The process of officially recording something, like a trademark or document, at the federal level for recognition and protection.