An assignment of a chose in action under a deed of arrangement that unconditionally transfers all the assignor's rights is an 'absolute assignment' under s 12 of the Conveyancing Act 1919 (NSW), even where the deed contemplates a possible resulting trust in favour of the assignor. The assignee-trustee can maintain proceedings to enforce the chose in action in their own name after termination of the deed, independently of any powers conferred by the deed or the Bankruptcy Act. A moratorium on enforcement of judgment debts does not extinguish the underlying liability for the purposes of an indemnity insurance policy.
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