The American Rule regarding successive assignments is also referred to as the ________ Rule.
A) New York
B) Boston
C) Los Angeles
D) Chicago
E) San Francisco

Question

Quizplus · Accepted Answer

The American Rule regarding successive assignments is also known as the New York Rule. This rule states that in the event of successive assignments of the same right or claim, the first assignee to give notice to the obligor (the person who owes the claim or right) will have the superior right to the claim or right. This rule differs from the English Rule, which gives priority to the first assignee in time, regardless of notice given to the obligor.

The American Rule Regarding Successive Assignments Is Also Referred to as the ________