Type of written notice or act that does not fully meet the requirements of a legal assignment but is valid and enforced by the courts in the interest of fairness and justice.
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UK: Assignment that does not give the assignee the right to sue in his own name. No particular form is necessary, not even writing, e.g. insured hands his life policy over to the bank as security for a loan. The assignee should notify the insurer as there may be successive assignees. Insurers in doubt as to the entitlement to the policy proceeds can pay the money into court under the Life Assurance Companies (Payment into Court) Act 1896.