Meaning of assignment
Querist : Anonymous
E.g. A gives loan to B for one year. A needs money in 2 months, he cannot recover from B, however he can assign this debt to C and take money from him. Now, on maturity date, C will recover amount from B.
In above case, B cannot assign his debt to C, because only assets can be transferred and not liability.
Regards
Querist : Anonymous
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