What is an assignment?
An assignment transfers a party’s rights under a contract to someone else.
Why it matters
It lets benefits be passed on without ending the original contract.
Common confusion
Assignment moves rights; duties usually need a novation to transfer.
Frequently Asked Questions
Can I assign any contract?
Not if the contract forbids it or the duties are personal.
Does the other side have to agree?
For assigning rights, often not; for delegating duties, usually yes.
Am I still liable after assigning?
For rights, generally no; for delegated duties, you may remain liable.