Actionable Claims and the Rationale Behind Repealing Section 130A of Transfer of Property, 1882

Abstract

Assignment of life policies was governed until 1938 by the basic principles pertaining to assignment of actionable claims. The Transfer of Property Act, Section 130A, has been repealed. It stipulates that a written instrument signed by the transferor or their duly authorized agent must be executed in order to transfer an actionable claim, with or without consideration. Once this is done, the transfer becomes complete and effective, and the transferee receives all rights and remedies associated with the transfer, regardless of whether notice of the transfer is given. This exemption applies to transfers of marine and fire insurance. However, the reason behind repealing the section along with repealing other related sections from Marine Insurance Act is pondered upon. This research is to bring out the cross reference of sections relating to actionable claim, assignment, and insurable interest in regard to marine
insurance policies.