A Systematic Interpretation of the Rule of Multiple Assignment of Creditor's Rights——Commenting on Article 50 of the Interpretation of General Rules for Contract Preparation
Article 50 of the Interpretation of the General Principles of Contracts provides for a priority order of satisfaction for general claims with multiple assignments in which"notice takes precedence,and time takes preced-ence in special cases".However,the article does not provide a complete specification and the rule given is un-clear.The rule of notice of assignment of claims should be based on the principle of protection of the debtor,and it is entirely misplaced to burden the debtor in order to safeguard the security of the transaction.Article 50 seems to be in line with Article 768 of the Civil Code,but Article 768 has its own loopholes and weaknesses.The priority of notice rule conflicted with article 546 of the Civil Code and did not justify the acquisition of claims by second as-signees.Therefore,article 50 should not be interpreted as adopting the priority of notification rule and the last sen-tence of its first item should not be applied when the debtor performs against the first assignee.
multiple assignments of claimsfactoring contractsnotice of assignment of claimsrules on as-signment of claims
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