Assignment, legal

Updated: Aug 20, 2021

It is possible legally to assign a debt or other legal chose-in-action so that the assignee acquires all rights and remedies, legal and equitable, provided that the assignment is absolute, in writing, and signed by the assignor. Notice in writing must also be given to the party to be charged, usually the debtor. If these conditions are not fulfilled the assignment may still be enforceable as an equitable assignment. Legal assignments are governed by the Law of Property Act 1925.

Reference: The Penguin Business Dictionary, 3rd edt.

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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.