Equitable assignment

Equitable assignment: where the statutory requirements for a legal assignment have not been met, an assignment can occur in equity. An equitable assignment takes place where (i) an assignor informs the assignee that they transfer a right (or rights) to them or (ii) the assignor instructs another party (or parties) to the agreement to discharge their obligation to the assignee. In comparison to a legal assignment, there are no requirements for a notice of equitable assignment to be given in writing.