partial assignment

partial assignment
An assignment by a debtor of a part of his property for the benefit of creditors. 6 Am J2d Assign § 39. The splitting of an entire claim or debt arising out of a single transaction and making a part of the claim or debt the subject of an assignment, such being valid at common law only with the consent of the debtor, since he has a right to pay his debt in one lump sum and to refuse to be subjected to suits by more than one claimant. 3 Williston, Contracts 3d ed § 442; 6 Am J2d Assign § 76. The reasons obtaining at common law for refusing to enforce a partial assignment do not apply in equity, or in jurisdictions with modern practice acts or rules, where the procedure contemplates that all interested persons be made parties and their rights determined by a single decree. 6 Am J2d Assign § 77.

Ballentine's law dictionary. . 1998.

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