Banking · Actionable Claims and Book Debts

Regarding Book Debts as collateral, consider the following statements: Statement I: An assignment of book debts is a transfer of an actionable claim under the Transfer of Property Act, 1882, and must be in writing signed by the transferor. Statement II: Banks generally only consider book debts that are less than 180 days old for the purpose of calculating the drawing power of a borrower. Statement III: Once a book debt is assigned to a bank, the bank has the absolute right to sue the debtor in its own name without joining the borrower in the legal action. Which of the statements given above are correct?