"The Law of Assignment" by Marcus Smith QC and Nico Leslie is a leading textbook on the law relating to intangible property or choses in action. Here is a comprehensive overview of the book:

Key Themes

1. Intangible Property: The book covers all forms of intangible property, including debts, rights under contract, securities, intellectual property, leases, rights/causes of action, and equitable rights.
2. Transfer and Assignment: It examines the nature of intangible property, how it comes into being, and how it is transferred or assigned. The book also considers the consequences of transfer, including what property cannot be transferred and the difficult question of priorities.
3. Analytical and Practical Approach: The book balances theoretical and practical aspects of the law, providing a methodical structure to a somewhat formless body of learning and precedent.
4. Recent Developments: The latest editions include expanded sections on the taking of security over intangibles, recent developments in litigation finance and no-win/no-fee arrangements, and the transferability of notes and other debt securities.

Plot Summary

The book is structured to provide a comprehensive treatment of the law relating to intangible property. It begins with general principles regarding intangibles and their transfer, then moves on to consider the law relating to particular types of intangibles such as securities, insurance contracts, leases, and intellectual property. The book also includes comparative European and US material to provide a broader perspective on the subject.

Critical Reception

The book has received positive reviews for its well-researched and disciplined analysis. The foreword to the first edition praises the authors for providing a methodical structure to a somewhat formless body of learning and precedent. It also highlights the authors' ability to draw together principles from different legal areas, ensuring a balanced approach between theory and practice.

Editions

The book has been published in multiple editions:

• First Edition: The initial edition was published with a focus on providing a timely and well-researched analysis of the law.
• Second Edition: This edition includes comprehensive treatment of the law relating to intangible property, with expanded sections on recent developments in litigation finance and security over intangibles.
• Third Edition: The latest edition continues to provide a comprehensive treatment, with additional practical treatment of factoring and updated comparative European and US material.

Overall, "The Law of Assignment" by Marcus Smith QC and Nico Leslie is a seminal work in the field of intangible property law, known for its clear and approachable structure, analytical and practical approach, and comprehensive coverage of recent developments.