Under the possession of tangible token rule, the first assignee who receives delivery of the tangible token prevails over subsequent assignees.

Question

Quizplus · Accepted Answer

The possession of tangible token rule, also known as the "first in time, first in right" rule, states that the first assignee who receives delivery of the tangible token has priority over subsequent assignees. This is based on the principle of ownership and control, as possession of the tangible token signifies an owner's control over the asset. Therefore, answer A is correct.

Under the Possession of Tangible Token Rule, the First Assignee