The book "Guest on the Law of Assignment" is a comprehensive treatise on the law governing the voluntary assignment of things in action. It is written by Anthony Gordon Guest, with Ying Khai Liew being the latest author to contribute to the fourth edition. Here is a detailed overview of the book:

Key Themes

1. Definition and Nature of Assignment:

   • The book begins by defining assignment and outlining examples of choses in action, detailing the requirements for assignment, and examining the relationship between assignment and other transactions.

2. Equitable Assignments:

   • It covers both equitable assignments of equitable choses and legal choses, as well as agreements to assign.

3. Restrictions on Assignment:

   • The book deals with contractual terms forbidding assignment, prohibitions by statute or public policy, and personal contracts and covenants.

4. Position of Creditors and Trustees:

   • It discusses the position of creditors, trustees in bankruptcy, personal representatives of the assignor, and the liquidator of an assignor company.

5. Priorities and Defences:

   • The book analyzes problems associated with priorities, including those between competing assignees, competing holders of interests in shares, and an assignee and a chargee under a charge created by a company. It also considers special priority rules and variation of priorities.

6. Financing Devices:

   • It reviews available financing devices involving assignment, including financing of receivables, factoring, block discounts, and securitization.

7. Assignment of Obligations or Liabilities:

   • The book looks at situations where there is an assignment of obligations or liabilities.

Critical Reception

While specific critical reviews are not provided in the search results, the book is widely regarded as a comprehensive and authoritative resource for practitioners dealing with issues related to the law of assignment. Its approach, following titles like Chitty on Contracts, ensures that practitioners can easily locate a statement of the law and the authority that supports it.

Plot Summary

The book does not have a narrative plot but rather serves as a legal treatise. It is structured to provide a thorough statement of the law on voluntary assignment, covering various aspects from the definition and nature of assignment to the complexities of priorities and financing devices. Each section is designed to address specific issues or topics, providing both the law and the supporting authorities.

Conclusion

"Guest on the Law of Assignment" is a seminal work in the field of contract law, particularly focusing on the intricacies of voluntary assignments. Its comprehensive coverage and clear, concise commentary make it an invaluable resource for legal practitioners dealing with assignments and related transactions. The book's updates with new case law ensure it remains relevant and authoritative in the legal community.