Commentary

38 Exceptions to the rule

CHOSES IN ACTION vol 7
| Commentary

38 Exceptions to the rule

| Commentary

38 Exceptions to the rule

A second or subsequent assignee will not be entitled to priority, notwithstanding that he gives notice first, if he had actual or constructive notice of the earlier assignment or assignments at the time he advanced his money, for the whole basis of the rule disappears: no fraud was practised on the second assignee, as he knew that there was a prior assignment1. It is accordingly essential that prospective assignees make enquiry of the trustees or fundholder or, in the case of an assignment of an insurance policy, of the insurance company. An assignee who neglects

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