{"title":"Debt Assignments and Notice to Debtors","authors":"Dr Kubi Udofia","doi":"10.2139/ssrn.3593432","DOIUrl":null,"url":null,"abstract":"An assignment of a debt transfers the rights in the debt from the creditor (assignor) to a third party (assignee). The assignee becomes the creditor of the (assigned) debt. In Bennett v White [1910] 2 KB 643 at 646-647 the court explained that an assigned debt is for all purposes in the same position as if it had been the original debt of the assignee.<br><br>There is a dearth of Nigerian judicial authorities on assignment of choses in action. This exiguity was observed in Julius Berger Nigeria Plc v T.R.C.B. Ltd [2010] 9 NWLR (Pt 1198) 80 at 106C-D. This discourse assesses the significance of notice to debtors in debt assignments. It is certainly not an exhaustive thesis on this issue.<br>","PeriodicalId":44862,"journal":{"name":"American Bankruptcy Law Journal","volume":null,"pages":null},"PeriodicalIF":0.6000,"publicationDate":"2020-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"American Bankruptcy Law Journal","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.2139/ssrn.3593432","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"LAW","Score":null,"Total":0}
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Abstract
An assignment of a debt transfers the rights in the debt from the creditor (assignor) to a third party (assignee). The assignee becomes the creditor of the (assigned) debt. In Bennett v White [1910] 2 KB 643 at 646-647 the court explained that an assigned debt is for all purposes in the same position as if it had been the original debt of the assignee.
There is a dearth of Nigerian judicial authorities on assignment of choses in action. This exiguity was observed in Julius Berger Nigeria Plc v T.R.C.B. Ltd [2010] 9 NWLR (Pt 1198) 80 at 106C-D. This discourse assesses the significance of notice to debtors in debt assignments. It is certainly not an exhaustive thesis on this issue.
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