Assignment Agreement
/əˈsaɪnmənt əˈɡriːmənt/
Definitions
- (n.) A contract in which one party transfers its rights or obligations under a contract to a third party.
The parties executed an assignment agreement to transfer the lease rights to the new tenant.
Forms
- assignment agreement
- assignment agreements
Related terms
See also
Commentary
An assignment agreement should clearly specify the rights and obligations assigned and whether the assignor remains liable after assignment.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.