Capable of being assigned allotted specified or designated as an assignable note or bill an assignable explanation an assignable amount
- legitimately transferable on ownership of some other
- Capable of becoming assigned, allotted, specified, or designated; since, an assignable note or costs; an assignable explanation; an assignable amount.
which may be assigned or transmitted; transferable; negotiable, as a bill of change. Comb. 170; tale, Bills, $ 17.
1. Banking: Letter of credit (L/C) whoever beneficiary can assign its proceeds to a 3rd party. Usually the assignability of a L/C isn't determined by the advising or providing lender's approval. 2. Law: energy or home that can be transmitted by one entity to a different featuring its connected obligations and legal rights.
(a.) effective at being assigned, allotted, specified, or designated; because, an assignable note or bill; an assignable reason; an assignable quantity.
At English common law debts and other choses in action were not assignable (see CHOSE), but by the Judicature Act 1873 any absolute assignment of any debt or other legal chose in action, of which express notice in writing is given to the debtor, trustee or other person from whom the assignor would have been entitled to receive or claim such debt, is effectual in law.