Repudiating the rule commonly attributed to the famous case of Dearie v. Hall, a rule which for at least 70 years had been understood to be the rule of the Federal courts, the United States Supreme court decided in 1924 that as between successive assignees of the same chose in action, mere priority of notice did not give priority of right.
Robert B. Porterfield,
Notes and Comments,
The Assignment of Merchants' Book Accounts as Security,
Wash. L. & Rev.
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