Which Rule States That in the Case of Multiple Assignments

question 6

Multiple Choice

Which rule states that in the case of multiple assignments of the same right,the first assignee to give notice of assignment to the obligor is the party with rights to the contract?

• A)The last-assignment-in-time rule
• B)The English rule
• C)The first-assignment-in-time rule
• D)The French rule
• E)The American rule

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Definitions:

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount that remains unpaid, not including interest on interest.

Rate of Interest

The percentage of principal charged by the lender for the use of its money.

Future Value

The value of an investment at a specific future date, based on its current value and anticipated growth rate.

Future Value

The value of an investment at a specific date in the future, taking into account factors like interest rates or returns.