Legal assignment: Difference between revisions

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In a game of [[legal contract top trumps]] a [[legal assignment]] beats an [[equitable assignment]], but must meet certain formalities set out in the [[Law of Property Act 1925]]. :
{{anat|security}}
 
In a game of [[legal contract top trumps]], a [[legal assignment]] beats an [[equitable assignment]], except in the “fewest formalities needed to work” category, because it must meet certain formalities set out in the [[Law of Property Act 1925]]:
*it must be absolute (unconditional).
*it must be absolute (unconditional).
*it mustr not not be by way of [[charge]] or security only: an assignment by way of security cannot be a [[legal assignment]].
*it mustr not not be by way of [[charge]] or security only: an assignment by way of security cannot be a [[legal assignment]].

Revision as of 15:39, 8 March 2018

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In a game of legal contract top trumps, a legal assignment beats an equitable assignment, except in the “fewest formalities needed to work” category, because it must meet certain formalities set out in the Law of Property Act 1925:

  • it must be absolute (unconditional).
  • it mustr not not be by way of charge or security only: an assignment by way of security cannot be a legal assignment.
  • The rights assigned must be wholly ascertainable and must relate to the whole of the chose in action.
  • It must be in writing and signed - no deemed acceptance by conduct here, friend.
  • The party whose obligations are being assigned must be given notice of the assignment.