assignability of contracts

Generally, the law does not preclude the assignment of a contractual right unless the substitution of rights would materially change the duty of the obligor, materially increase the burden or risk imposed on the obligor by the contract, materially impair the chance of obtaining return performance, or materially reduce the value
An assignment of contract occurs when one party to an existing contract (the "assignor") hands off the contract's obligations and benefits to another party (the "assignee"). Ideally, the assignor wants the assignee to step into his shoes and assume all of his contractual obligations and rights. In order to do that, the other party
12.11.2013 -
Assignability of Commercial Contractsby Practical Law Commercial Transactions Related Content Maintained • USA (National/Federal)This Practice Note examines US law relating to the transferability of commercial contracts, including a party's legal ability to assign its rights and delegate its performance obligations under
An outline of the ways in which contractual rights may be transferred to third parties by means of assignment, and the rule against assigning the burden, or obligations, of a contract. Request a free trial. To access this resource and thousands more, register for a free, no-obligation trial of Practical Law. Request a free trial.
The transfer of a right from one party to another. For example, a party to a contract (the assignor) may, as a general rule and subject to the express terms of a contract, assign its rights under the contract to a third party (the assignee) without the consent of the party against whom those rights are held. Obligations cannot be
24.10.2012 -
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18.04.2017 -

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