Conditional Statement

Trying to construct a conditional statement that tests whether a post has either meta info (for a custom image) or a feature image:

$image="Recipe Image";
$recipeimage=get_post_meta($post->ID, $image, true);

if ( ! $recipeimage && has_post_thumbnail() = 'false'){ ?>

<img src="<?php bloginfo('template_directory'); ?>/images/no-recipe-image.jpg" alt="" class="alignright" />

<?php } ?>

So if the meta variable returns false and there is no post thumbnail, we display the alternate image.

Anyone have any idea why this is not working?

Thanks in advance.