Assignments in Law

Assignments in law refer to the transfer of rights and obligations from one party (the assignor) to another (the assignee). This typically occurs in contracts or agreements where the assignor transfers their interest or benefits under a contract to a third party. The assignment must usually be made with the consent of the other contracting party if required by the contract, and it effectively allows the new party to step into the original party’s shoes, gaining their rights while the original party may or may not remain responsible for obligations.