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Fitzroy v. Cave

Fitzroy v. Cave

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Published by crlstinaaa

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Published by: crlstinaaa on Aug 29, 2008
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05/09/2014

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Assignment of RightsCase: Fitzroy v. Cave (1905) [pp. 1079-1082]2 K.B. 364Facts: Fitzroy was the director of a company called Cork Mineral Development.Cave was a co-director and local mgr of the company. Fitzroy is dissatisfied withCave's work. Cave has various debts against him. Fitzroy decides to take theassignment of 5 debts owed to 5 different creditors, in order to get anadjudication in bankruptcy against Cave, and so get him removed from thedirectorate of the company. The lower court found for the Df, that the assignmentwas not valid. Pl appeals.Main argument that Cave made: He's not doing this for the money, but only
 to get rid of me at the company. B/c when he sues me, and I can't pay, I'll bedriven into bankruptcy, and then I'll lose my job.Issue: Whether the assignment is valid.Holding/Reasoning: A debt must be regarded as a piece of property capable oflegal assignment in the same sense as a bale of goods. Pl here is merelyasserting a legal right consequential upon the possession of property which hasbeen validly assigned to him.Court doesn’t care why Fitzroy is doing this.
Possession of property - there is a rule about the inalienability of
 property§ The I.O.U./debt is a piece of property, and is assignableHas the assignment put Cave into a different position?
§ The freedom of K - now Cave owes someone he didn’t contract with§ Still owes same amount of money, but just to different peopleRULE: Most rights that anyone wants to assign (e.g. debts) are automaticallyassignable without questionNotes: [p. 1081]Irrevocable Gratuitous Assignments - § 332(1) says: "Unless a contrary
 intention is manifested, a gratuitous assignment is irrevocable if (a) theassignment is in a writing either signed or under seal that is delivered by theassignor; or (b) the assignment is accompanied by delivery of a writing of a typecustomarily accepted as a symbol or as evidence of the right assigned.§ In both parts, one expressly and the other impliedly, the patternadopted is consistent with the requirement respecting gifts of chattel that asymbolic or constructive "delivery" is required.Assignment of "Future Accounts" under Article 9
§ What if this has no present existence (crops to be grown, etc.) - A/Rfrom future sales? Useful for sellers to assign their expected A/R for futuresales to help seller receive credit.§ § 321 Assignment of Future Rights(1) Except as otherwise provided by statute, an assignment of aright to payment expected to arise out of an existing employment or othercontinuing business relationship is effective in the same way as an assignment ofan existing right.(2) Except as otherwise provided by statute and as stated inSubsection (1), a purported assignment of a right expected to arise under acontract not in existence operates only as a promise to assign the right when itarises and as a power to enforce it.§ Art 9 (9-204(1)) says: A security agreement may provide that any orall obligations covered by the security agreement are to be secured by after-acquired sales.

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