Barbara Owes Arthur $2,000

question 27

Multiple Choice

Barbara owes Arthur $2,000.On July 1, Arthur assigns the debt to Caleb.Thereafter on July 15, Arthur assigns the same right to David, who in good faith gives value for it and knows nothing about the first assignee.David immediately notifies Barbara of the assignment.In this case:

• A) under the English Rule, a second assignment of the same claim can never be effective.
• B) under all of the rules, Caleb has priority since he was the first assignee in time.
• C) under the English Rule, David has priority.
• D) under the majority rule, David has priority.

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Definitions:

Departments

Divisions within an organization, each focusing on a specific area of function, such as marketing, finance, or human resources.

Divisions

Sections or branches of a company, each specializing in a particular area of the organization's overall function.

Symbolically

In a manner that uses symbols or is representative of larger concepts or ideas, often carrying deeper meanings.

Organisational Pyramid

A hierarchical structure of an organization that illustrates the ranking of positions and the flow of authority from the top (executives) to the bottom (entry-level positions).