The requirements for an equitable assignment are less onerous. Such an assignment may be made inÂ one of two ways:
- Â The assignor can inform the assignee that he transfers a right or rights to him.
- Â The assignor can instruct the other party or parties to the agreement to discharge theirÂ obligations to the assignee instead of the assignor.
Again, only the benefit of an agreement may be assigned. There is no requirement for writtenÂ notice to be given or received.
The position of a party who wishes to be able to make an equitable transfer of obligations underÂ the contract is the same as described under Legal assignments (previous article).