Legal Definitions - assignment pro tanto

Definition: Assignment pro tanto refers to a type of assignment where an order is drawn on a third party and made payable from a specific fund that belongs to the drawer. The drawee becomes an assignee with respect to the drawer's interest in that fund.

Example: Let's say John owes Jane $500 and has $1000 in his bank account. John writes an order to his bank to pay Jane $500 from his account. This order is an assignment pro tanto, and the bank becomes an assignee with respect to John's interest in that $500.

This example illustrates how an assignment pro tanto works. John assigns a portion of his bank account to Jane, and the bank becomes an assignee with respect to that portion of John's account.