https://www.taxtmi.com/caselaws?id=281364 The benefit of a contract for the purchase of goods may be assignable where it is not tied to personal obligations, and the right to call for delivery on payment can amount to a transferable beneficial interest in movables. However, an assignment made by an insolvent for nominal consideration to place assets beyond creditors' reach and prevent vesting in the Official Assignee was treated as made for an unlawful object and was therefore inoperative. As the assignment failed, the beneficial interest remained with the insolvent and vested in the Official Assignee, while the plaintiff also failed to show sufficient readiness and willingness to accept delivery on the required terms. The suit accordingly failed. en-us Tue, 08 May 1906 00:00:00 +0530 Sat, 15 Jun 2019 15:09:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281364 The benefit of a contract for the purchase of goods may be assignable where it is not tied to personal obligations, and the right to call for delivery on payment can amount to a transferable beneficial interest in movables. However, an assignment made by an insolvent for nominal consideration to place assets beyond creditors' reach and prevent vesting in the Official Assignee was treated as made for an unlawful object and was therefore inoperative. As the assignment failed, the beneficial interest remained with the insolvent and vested in the Official Assignee, while the plaintiff also failed to show sufficient readiness and willingness to accept delivery on the required terms. The suit accordingly failed. Case-Laws Indian Laws Tue, 08 May 1906 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281364