Sections 48, 78 and 79 of the Transfer of Property Act provide the example of which of the following…

These sections address priority between competing property interests. Section 48 ordinarily preserves earlier rights; section 79 protects priority for qualifying further advances, while section 78 can postpone an earlier mortgage because of the earlier mortgagee’s fraud, misrepresentation or gross neglect. The governing maxim is priority in time where equities are otherwise equal, subject to those statutory qualifications.