https://www.taxtmi.com/caselaws?id=282340 An irrevocable written direction to pay a debt to another, when accepted by the debtor and read with surrounding correspondence, can constitute a valid assignment of an actionable claim under Section 130 of the Transfer of Property Act. The court treated the endorsement as showing an intention to transfer the debt, not a mere pay order. It also held that the instrument was not a simple acknowledgment under the Stamp Act; it was properly treated as an assignment, duly stamped, and therefore admissible in evidence after the stamp duty certificate was issued. The plaintiff accordingly established a valid assignment of the debt. en-us Wed, 10 Jan 1962 00:00:00 +0530 Sat, 03 Aug 2019 13:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282340 An irrevocable written direction to pay a debt to another, when accepted by the debtor and read with surrounding correspondence, can constitute a valid assignment of an actionable claim under Section 130 of the Transfer of Property Act. The court treated the endorsement as showing an intention to transfer the debt, not a mere pay order. It also held that the instrument was not a simple acknowledgment under the Stamp Act; it was properly treated as an assignment, duly stamped, and therefore admissible in evidence after the stamp duty certificate was issued. The plaintiff accordingly established a valid assignment of the debt. Case-Laws Indian Laws Wed, 10 Jan 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282340