Assignment of Claims
/əˌsaɪnmənt əv kleɪmz/
Definitions
- (n.) The legal transfer of a party's rights to enforce a claim to another party.
The assignment of claims must be in writing to be enforceable.
- (n.) A document effectuating the transfer of claims from one party to another.
The creditor executed an assignment of claims to a third party as part of the debt sale.
Forms
- assignment of claims
- assignment of claim
Related terms
See also
Commentary
Often requires notice to the obligor; rights subject to defenses against assignor.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.