General Knowledge · General Awareness
In the context of 'Assignment' of actionable claims, what is the primary difference between an 'Absolute Assignment' and an 'Assignment by way of Charge'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Assignment by way of charge is only applicable to Life Insurance Policies.
- 2Only absolute assignments are recognized under Section 130 of the Transfer of Property Act.
- 3Absolute assignment transfers the entire interest to the assignee, whereas assignment by way of charge only creates a security interest.✓
- 4Absolute assignment requires the consent of the debtor while assignment by way of charge does not.
Correct answer
Absolute assignment transfers the entire interest to the assignee, whereas assignment by way of charge only creates a security interest.
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