This title provides you with all the guidance you need on the law governing the voluntary assignment of things in action. It covers the nature of assignment, equitable assignments, restrictions, priorities, liabilities, conflict of law and more. The commentary is clear and concise and follows the approach of titles such as Chitty on Contracts – enabling you to find a statement of law and, for each issue or topic, the authority that supports it.
- Defines assignment before outlining and giving examples of choses in action, detailing the requirements for assignment and looking at the relationship of assignment and other transactions.
- Examines the law of assignment under section 136 of the Law of Property Act 1925.
- Goes through equitable assignment and agreements to assign, covering both an equitable assignment of an equitable chose and of a legal chose.
- Deals with restrictions on assignment and covers contractual terms forbidding assignment, prohibition by statute or public policy and personal contracts and covenants.
- Discusses the position of creditors, trustees in bankruptcy and personal representatives of the assignor and the liquidator of an assignor company.
- Analyses the problems associated with priorities including those between competing assignees, competing holders of interests in shares and an assignee and a chargee under a charge created by a company.
- Considers special priority rules and variation of priorities.
- Establishes defences available to the obligor under assignments subject to equities, including defences that impeach the existence or enforceability of the chose in action assigned, set-off, and right of retainer.
- Reviews available financing devices, factoring, block discounts and securitisation.
- Looks at situations where there is assignment of obligations or liabilities.
The fifth edition has been comprehensively updated throughout to ensure you have the latest guidance at your fingertips. Key changes include new discussions on whether a contract reflects a single chose in action or a bundle of choses and an examination of the distinctions between an intention to assign and contractual intention. It also addresses whether the debtor or obligor has a right to sight the assignment.
Other new features of this edition include:
- Additional new commentary on the redaction of documents relied on in court; the effects of backdating an assignment; the doctrine of relation on the assignee’s interest before the chose is assigned; whether termination of a contract affects a non-assignment clause; and priority between beneficiary under a trust and assignee of the trustee.
- Expanded commentary on relief by way of interpleader; agreements to assign an existing chose in the future; form of writing for equitable assignments of equitable choses; prohibitions on assignment; marshalling; abatement; and equitable set-off.
- Updated with new UK case law including: Promontoria (Oak) Ltd v Emanuel [2021] EWCA Civ 1682, [2022] 1 WLR 2004; Hudson v Hathway [2022] EWCA Civ 1648, [2023] K.B. 345; Farrar (Deceased) v Miller [2021] EWHC 1950 (Ch); Farrar v Miller [2022] EWCA Civ 295; Re Smith [2021] EWHC 1272 (Comm); LA Micro Group (UK) Ltd v LA Micro Group Inc [2023] EWCA Civ 214, [2024] Ch. 1; Phoenix Group Foundation v Harbour Fund II LP [2023] EWCA Civ 36; Dassault Aviation SA v Mitsui Sumitomo Insurance Co Ltd [2024] EWCA Civ 5; and Energy Works (Hull) Ltd v MW High Tech Projects UK Ltd [2022] EWHC 3275 (TCC), 206 Con. L.R. 40
- Relevant cases from other jurisdictions including: Re O'Hara-Tucker [2022] VSC 572 (Australia); Billabong Gold Pty Ltd v Vango Mining Ltd (No. 2) [2023] WASCA 58 (Australia); Winland Finance Ltd v Gain Hero Finance Ltd [2022] HKCFA 3 (Hong Kong); and Gravitas International Associates Pte Ltd v Invictus Group Pte Ltd [2022] SGHC 2 (Singapore).
