(a) If payment in respect of the assigned receivable is made to the assignee, the assignee is entitled to retain the proceeds and goods returned in respect of the assigned receivable

1. An agreement concluded before notification of the assignment between the assignor and the debtor that affects the assignee's rights is effective as against the assignee, and the assignee acquires corresponding rights.

(a) The assignor has received the proceeds under instructions from the assignee to hold the proceeds for the benefit of the assignee and

1. If proceeds are received by the assignee, the assignee is entitled to retain those proceeds to the extent that the assignee's right in the assigned receivable had priority over the right of a competing claimant in the assigned receivable.

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Priority among several assignees

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(a) The assignee consents to it or

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2. If proceeds are received by the assignor, the right of the assignee in those proceeds has priority over the right of a competing claimant in those proceeds to the same extent as the assignee's right had priority over the right in the assigned receivable of that claimant if

2. An agreement concluded after notification of the assignment between the assignor and the debtor that affects the assignee's rights is ineffective as against the assignee unless

Law applicable to the rights and obligations of the assignee and the debtor

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1. The law of the State in which the assignor is located governs the priority of the right of an assignee in the assigned receivable over the right of a competing claimant.

Priority between the assignee and the insolvency administrator or creditors of the assignor

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Consider the following hypothetical example.

(a) Arising from fraudulent acts on the part of the assignee or

As between assignees of the same receivable from the same assignor, the priority of the right of an assignee in the assigned receivable is determined by the order of conclusion of the respective contracts of assignment.

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(i) Cases of fraud or presumptive fraud

(b) If payment in respect of the assigned receivable is made to the assignor, the assignee is entitled to payment of the proceeds and also to goods returned to the assignor in respect of the assigned receivable and

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Failure of the assignor to perform the original contract does not entitle the debtor to recover from the assignee a sum paid by the debtor to the assignor or the assignee.

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To be sure, virtual reality remains a relatively young technology.

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(a) Assignment means the transfer by agreement from one person ( assignor ) to another person ( assignee ) of all or part of or an undivided interest in the assignor's contractual right to payment of a monetary sum ( receivable ) from a third person ( the debtor ). The creation of rights in receivables as security for indebtedness or other obligation is deemed to be a transfer

1. In a claim by the assignee against the debtor for payment of the assigned receivable, the debtor may raise against the assignee all defences and rights of set off arising from the original contract, or any other contract that was part of the same transaction, of which the debtor could avail itself as if the assignment had not been made and such claim were made by the assignor.

With the exception of matters that are settled elsewhere in this Convention and subject to articles 23 and 24, the law of the State in which the assignor is located governs the priority of the right of an assignee in the assigned receivable over the right of a competing claimant.

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(a) Original contract means the contract between the assignor and the debtor from which the assigned receivable arises

(s) Subsequent assignment means an assignment by the initial or any other assignee.

(c) If payment in respect of the assigned receivable is made to another person over whom the assignee has priority, the assignee is entitled to payment of the proceeds and also to goods returned to such person in respect of the assigned receivable.