equitable assignment

Definition of "equitable assignment"
  1. A transfer of property or rights, particularly those in which the transferor has a future interest, that may not technically be legal, but would be considered fair and just by a court focusing on justice and fairness
How to use "equitable assignment" in a sentence
  1. Despite the lack of a written contract, the judge recognized the equitable assignment of the store's future profits to the plaintiff.
  2. The attorney argued that even though there was no formal agreement, the bank's actions reflected an equitable assignment of the debts.
  3. While there was no formal deed of transfer, the court acknowledged the equitable assignment of the property based on the circumstances.

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