https://www.taxtmi.com/caselaws?id=276443 A written endorsement on a promissory note, signed by the transferor and made on the instrument itself, can operate as a valid equitable assignment even without express words of assignment if it clearly identifies the debt and directs payment to the transferee. The intention to transfer the debt may be inferred where the endorsed instrument is delivered with that direction. The absence of a stamp objection did not invalidate the assignment, as the necessary duty and penalty had already been levied. The endorsement was therefore treated as a valid equitable assignment in favour of the plaintiff. en-us Wed, 22 Aug 1906 00:00:00 +0530 Mon, 12 Nov 2018 11:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276443 A written endorsement on a promissory note, signed by the transferor and made on the instrument itself, can operate as a valid equitable assignment even without express words of assignment if it clearly identifies the debt and directs payment to the transferee. The intention to transfer the debt may be inferred where the endorsed instrument is delivered with that direction. The absence of a stamp objection did not invalidate the assignment, as the necessary duty and penalty had already been levied. The endorsement was therefore treated as a valid equitable assignment in favour of the plaintiff. Case-Laws Indian Laws Wed, 22 Aug 1906 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276443