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Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

The party to whom an ASSIGNMENT has been executed.  Under the common law, the assignee had no right to bring suit in his own name in the event or default or breach, as the suit had to be brought in the name of the ASSIGNOR.  This common law rule has been changed in modern times to give the assignee the right to bring suit in his or her own name.

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