Equitable asignment

For equitable assignment, no particular form is required. Intention is importance. The words must show that the assignee is to have benefit of the chose in action. The assignment must be address to the assignee (Halsbury's Law of England). Once there is a clear intention on the part of assignee that the assignee should get the benefit of the debtor by conveyancing such intention to assignee, an equitable assignment is created. The debtor is liable to pay the assignee although it has already paid to the assignor. (case: Malaysian International Merchant Bankers Bhd v Malaysian Airlines System Bhd).

Notice is not required.
The assignment is validly created as between the assignor & assignee the moment it is made. This is not affected by the fact that no notice had at that point been given to the debtor altough the debtor may only be bound upon receipt of the notice. In the case MIMB Bhd v MAS Bhd, as between the assignor & the assignee, an equitable assignment, whether voluntarily of for value, is absolute & complete without notice been given to the debtor. But, a debtor or a fund holder who has receive notice of an equitable assignment must withhold all further payments to the assignor unless made with the consent of the assignee, for if he pays to the assignor without consent, he will have to pay over again to the assignee. After notice, debtor or fund holder became trustee for the assignee...:>