3rd Party Beneficiary Rights

second assignee for value and without notice obtains a novation from the obligor, she will prevail unless the obligor knew of the prior assignment. Thus, the obligor may not use novation to choose which assignee to pay.

 

If the second assignee for value and without notice gets the firstjudgment against the obligor or receives payment from the obligor, she will prevail over the first assignee.

 

If the filing provision of the U.C.C. applies to the transaction, generally the assignee who is the first to file will prevail.

 

QUESTION ID: K0146B

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