ASSIGNMENT, a term denoting a trans fer by deed of any property, or right, title or interest in property,. real or personal. Assign ments are usually given for leases, mortgages, and funded property. In the United States, as signment is of broader signification and applies also to the transfer of real property by certain conveyance. In general, every right of property, real or personal, and every demand connected with a right of property, real or personal; and all choses in action, as bonds, notes, judgments, mortgages, debts, contracts, agreements, relating both to real and personal property, are as signable, and the assignment thereof will pass to the assignee a right of action in the name of such assignee against all parties liable to an action. It is now most frequently used to describe the transfer of non-negotiable choses in action; and is more particularly applied to a written transfer, as distinguished from a transfer by mere delivery. Assignment carries with it all collateral securities held by the assignor for the collection of a debt or the fulfilment of a contract, and is subject to all the equities and charges which attached in the hands of the as signor. A personal trust, as the right of a master in his indentured apprentice, or the du ties of a testamentary guardian, or the office of executor, trustee, etc., is not assignable. The
validity of an assignment must be determined by the law of the State in which it was made, provided the thing assigned is subject of munic ipal or State law; but copyrights, patents, and government claims are governed by acts of Congress. In general, assignments should be recorded in the office prescribed by law, or are void as against those claiming under subsequent assignments. In a few States, filing or record ing is necessary to the assignment of certain classes of choses in action, such as future earn ings. In many States statutes give preference to laborers for their claims to payment of debts due them for labor furnished, and it has been generally held that these rights to priority of payment, so given or recognized, pass to the assignees of the laborer. In order to be en titled to preference, the assignee's claim must be for money advanced to the laborers them selves as distinguished from a mere advance to the employer with which to pay the laborers.
See BANKRUPTCY LAWS; BILL OF SALE; CON TRACTS.