Legal assignment

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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 must not not be by way of charge or security only: an assignment by way of security is an equitable and not a legal assignment.
• The rights assigned must be wholly ascertainable and must relate to the whole of the chose in action. This sounds meaningful and might get you 6 our of 10 in a law exam but god only knows what this means in practice.
• 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.

See also

• Assignment by way of security
• Chose in action