7 What rights can be assigned?

The first stage in determining whether a contractual right can be assigned is whether it is characterised as a chose in action. A right that is a chose in action is a personal proprietary right that can be transferred to a third party at law or in equity according to the formal rules governing the […]

08, 15, 2015
Comments Off on 6 What is an Absolute assignment?

By whiggs

Transfer of financial assets in transactions

6 What is an Absolute assignment?

In Austino Wentworthville Pty Limited v Metroland Australia Limited [2013] NSWCA 59 Barrett J summed up what he considered to constitute an absolute assignment: An “absolute” assignment is one that is unconditional and does not attempt to affect part only of the chose in action. The fact that an assignment otherwise absolute is accompanied by […]

08, 15, 2015
Comments Off on 5 Equitable assignment

By whiggs

Transfer of financial assets in transactions

5 Equitable assignment

An assignment may be effective as an equitable assignment even if the formalities required by s 12 of the Conveyancing Act have not been satisfied. Pending the giving of notice, the assignment takes effect in equity only: Norman v Federal Commissioner of Taxation [1963] HCA 21; (1963) 109 CLR 9 at 28 per Windeyer J.

08, 15, 2015
Comments Off on 4 s 12 of the Conveyancing Act

By whiggs

Transfer of financial assets in transactions

4 s 12 of the Conveyancing Act

Section 12 Assignments of debts and choses in action “Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal chose in action, of which express notice in writing has been given to the debtor, trustee, or other person from […]