Contracts
Assignment
Transferring contract rights to another party, without release from liability
The assignor hands over their rights but generally remains secondarily liable if the assignee fails to perform. Many contracts and most leases restrict assignment or require the other party’s consent.
How the exam asks about it
The lingering liability is the examinable point, and it is why a departing tenant who assigns a lease is often unpleasantly surprised.
Related terms
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