Editing Contracts/Assignment
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Courts will not enforce a contract to assign an expectancy unless there is a valuable consideration. For example, under a settlement of property the respondent "the son" would have been entitled to an equal portion of properties along with his other siblings which was gained in a [[Settlement (litigation)|settlement]] by his mother. This portion was only his when allocated to him at his mothers discretion. Prior to this allocation being made, the respondent allotted his benefit to [[trustee]]s for a voluntary settlement. He was assigning or purporting to assign something which he might become entitled to in the future, not a [[contingent interest]]. The judgment held it ineffective and elaborated on previous points to state the respondent cannot be compelled to allow the trustees to retain the appointed sum.<ref>Northumberland (Duke) v Inland Revenue Comrs</ref> | Courts will not enforce a contract to assign an expectancy unless there is a valuable consideration. For example, under a settlement of property the respondent "the son" would have been entitled to an equal portion of properties along with his other siblings which was gained in a [[Settlement (litigation)|settlement]] by his mother. This portion was only his when allocated to him at his mothers discretion. Prior to this allocation being made, the respondent allotted his benefit to [[trustee]]s for a voluntary settlement. He was assigning or purporting to assign something which he might become entitled to in the future, not a [[contingent interest]]. The judgment held it ineffective and elaborated on previous points to state the respondent cannot be compelled to allow the trustees to retain the appointed sum.<ref>Northumberland (Duke) v Inland Revenue Comrs</ref> | ||
==References== | ==References== | ||
{{reflist}} | {{reflist}} |