ASSIGNMENT (Law Lat. assignatio, from assigno,—ad and signum,—to mark for; to appoint to one; to appropriate to).
In Contracts. A transfer or making over to another of the whole of any property, real or personal, in possession or in action, or of any estate or right therein.
A transfer by writing, as distinguished from one by delivery.
The transfer of the interest one has in lands and tenements, and more particularly applied to the unexpired residue of a term or estate for life or Cruise, Dig. tit. xxxii. (Deed) c. vii. 15; 2 Wooddeson Lect. 170, 171; 1 Stephen, Comm. 485. The deed by which the transfer is made is also called an assignment. Comyns, Dig.; Bacon, Abr. ; Viner, Abr. ; Nelson, Abr.; La. Civ. Code, art. 2612;. Angell, Assign.; 1 Hare & W. Sel. Dec. 78-85; 4 Cruise, Dig. 160.
2. What may be assigned. Every demand connected with a right of property, real or personal, is assignable. Every estate and interest in lands and tenements may be assigned, as also every present and certain estate or interest in incorporeal heredit• ments, even though the interest be future, including a term of years to commence at a Subsequent period ; for the interest is vested in prcesenti, though only to take effect in faturo, Perkins, s. 91; Coke, Litt. 46 b; rent to grow due (but not that in arrear, 8 Cow. N. Y. 206); a right of entry where the breach of the condition ipso facto terminates the estate, 2 Gill & J. Md. 173; 4 Pick. Mass. 1; a right to betterments, 9 Me. 62; the right to cut trees, which have been sold on the grant or's land, Hob. 173; 1 Greenleaf, Ev. 27; Cruise, Dig. tit. 1, 45, n. ' • 7 N: H. 522; 6 Me. 81, 200 ; 18 Pick. Mass. 569; 1 Mete. Mass. 313 ; 4 id. 580; 9 Leigh, Va. 548; 11 Ad. & E. 34; aright in lands which may be perfected by occupation. 4 Yerg. Tenn. 1; 1 Cooke, Tenn. 67. But no right of entry or re-entry can be assigned, 2 Yerg. Tenn. 84; Littleton, 347; 2 Johns. N. Y. 1; 1 Cranch, 423-430; 1 Dev. & B. No. C. 319 ; nor a nalced power; though it is otherwise where it is coupled with an interest. 2 Mod. 317.
• 3. To make an assignment valid at law, the subject of it must have an existence, act ual or potential, at the time of the assign ment. 7 Ohio St. 432. But courts of equity will support an assignment not only of in terests in .action and contingency, but of things which have no present, actual, or potential existence, but rest in mere possi bility only, 2 Story, Eq. Jur. 630-639; Fearne, Cont. Rem. 527; as an heir's possi bility of inheritance. 4 Sneed, Tenn. 258. The assignment of personal is chiefly interesting in regard to choses in action and as to its effect in cases of insol vency and bankruptcy. Assignments by debtors for the benefit of creditors are regu lated by statute in nearly all the states of the United States. A chose in action cannot be transferred at common law. 1 Fonblanque, Eq. b. 1, c. 4, 2, n. 9; 10 Coke, 48; Coke, Litt. 266 a; Chitty, Bills, 6; Comyns, Dig. ;Chancery (2 H); 3 Cow. N. Y. 623 ; 2 Johns. N. Y. 1; 15 Mass. 388; 1 Cranch, 367; 5 Wisc. 17 ; 5 Halst. N. J. 20. But the as signee may sue in the assignor's name, and the assignment will be considered valid in equity. See 4. In equity, as well as law, some choses in action are not assignable: for example, an officer's pay or commission, 2 Anstr. 533; 1 Ball & B. Ch. Ir. 387; 1 Swanst. Ch. 74; 3 Term, 681; 2 Beay. Rolls, 544; Turn. & R. 459 ; see 7 Mete. Mass. 335 ; 13 Mass. 290; 15 Ves. Ch. 139; or the salary of a judge, 10 Humphr. 342 ; or claims for fishing or other bounties from the government; or rights of action for fraud or tort, or any rights pen dente lite. 1 Pet. 193, 213; 6 Cal. 456; 3 E. D. Smith, N. Y. 246; 22 Barb. N. Y. 110; 26 id. 635 ; 2 N. Y. 293 ; 3 Litt. Ky. 41; 9 Serg. & R. Penn. 244; 6 Madd. Ch. 59; 2 Mylne K. 592. Nor can personal trusts be assigned ; as the right of a master in his apprentice, 11 B. Monr. Ky. 60; 1 Mass. 172; 8 id. 299; 8 N. H. 472, or the duties of a testamentary guardian. 12 N. H. 437; 1 Hill, N. Y. 375.