Security of Assignments
Security of AssignmentsRIGHT TO SUE UNDER THE ASSIGNMENTSNAMEREG
NUM.MONISYA SRI NARAJU01DKB12F2019KANAGAMBIGAI MUNIASAMY
NAIDU01DKB12F2016SANTHIRIGA RAMAN01DKB12F2017JAGATHISWARY
MANUKARAN01DKB12F2073ELLIL VINOOTTENI GUNALAN01DKB12F2020SIVANANDA
GANASAN01DKB12F2014ASSIGNOR
ASSIGNEEPARTY THAT RECEIVES THE RIGHTS AND OBLIGATIONS UNDER THE
CONTRACT, BUT WASNT AN ORIGINAL TO THE CONTRACT
CAN BE AN INDIVIDUAL, A GROUP OR A BUSINESS
RIGHTS AND OBLIGATIONS OF ASSIGNOR PASS TO THE ASSIGNEE.
STEPS INTO THE SHOES OF ASSIGNOR.
ASSIGNEE CAN GENERALLY SUE OTHER PARTY TO THE CONTRACT IF THAT
PARTY DOESNT FULFILL THE CONTRACT.
OBLIGORObligor has same defences against assignee as those
against assignorObligor is a party that is obligated to do
something under the terms of a contract you might be familiar with
the term obligor, because its often used to describe a borrower or
debtor.
RIGHT TO SUE BY ASSIGNEE UNDER ASSIGNMENTASSIGNOR DEFAULTS IN
HIS LOAN REPAYMENTFAIL TO MAKE PAYMENTASSIGNOR CAN DISPOSE THE
PROPERTYTHE FRAUDULENT FROM THE ASSIGNORPROVIDING FALSE
INFORMATIONINTENDED TO MAKE THE PROPERTY ASSIGN TO HIM
NO IMPAIRMENT & INVALID DOCUMENTINTERFERE WITH THE ASSIGNEES
ENFORCEMENTS OF THE OBLIGATION
THE DOCUMENTS DELIVERED ARE NO GENUINE
CLAIM IS INVALID AND ENCUMBEREDASSIGNED CLAIM IS INVALID
IN TERMS OF DEFENSE
TORKINGTON V MAGEE (1902)Date:01-Jan-1902Judges:Lord Alverstone
CJ, Darling and Channell JStatutes:Judicature Act 1873
25(6)References:[1902] 2 KB 427,
ASSIGNOR: RAYNERDEFENDENT: MAGEEPLAINTIFF(ASSIGNEE):
TORKINGTON
CONTRACT FOR A SALE OF PROPERTY
CASE SUMMARY:
DEFENDANT HAD CONTRACT WITH MR.RAYNER TO SELL TO HIM THE
DEFENDANTS REVERSIONARY INTEREST IN A SUM CHARGED ON CERTAIN STOCK
AND FUNDS.
RAYNER ASSIGNED TO PLAINTIFF BY A DEED HIS INTEREST IN THIS
CONTRACT. WRITTEN NOTICE IS GIVEN TO MAGEE.
AT DATE OF ASSIGNMENT THERE IS NO BREACH OF CONTRACT BUT AFTER
SOME SUBSEQUENT NEGOTIATIONS , THE PLAINTIFF CONSIDER MAGEE HAD
BROKEN THE CONTRACT
BUT JUDICATURE ACT DID NOT ENTITLE THE PLAINTIFF TO SUE IN HIS
OWN NAME
THE PLAINTIFF APPEALED
COURT DECISIONCHANELL J
Debts and other choses in action
personal rights of property which can only be claimed or
enforced by action, and not by taking physical possession
assignee can sue the developer/debtor directly without the
concurrence of the assignor which means the assignor cannot sue the
developer/debtor directly without the concurrence of the assignee
unless it is an assignment by way of charge.
Thank you
