10 What if the assignee needs to take actionagainst the debtor?
- 2015-08-15
- By whiggs
- Posted in Transfer of financial assets in transactions
- As we discussed above an assignment for value will be enforceable in equity by the assignee. And, the benefit of a contract is in general assignable in equity and may be enforced by the assignee.
- The assignor is not a necessary party to enforce the assignment although the assignor ought to ordinarily be joined in any proceedings.
- At common law, an assignee of a chose in action can bring proceedings in the assignor’s name to enforce the obligation, even though the assignor refuses to consent. The presumption is that the assignment is sufficient authority to bring proceedings in the assignor’s name.