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The general rule is that the rights and duties of a party to a contract are freely assignable, unless the right to assign is expressly prohibited by the contract.
Assignment Clause Example Assignment: A party must not assign, novate or otherwise deal with the whole or any part of its rights or obligations under this Agreement without the prior written consent of the other Party (such consent is not to be unreasonably withheld).
In your Assignment Agreement, you should include information like: the name of the person handing over contractual duties (called "the assignor"); the recipient of the contractual rights and obligations (called "the assignee"); the other party to the original contract (called "the obligor"); the name of the contract ...
The thrust of the assignment clause is that the buyer can rent, lease, repair, sell, or assign the property. To ?assign? simply means to hand off the benefits and obligations of a contract from one party to another. In short, it's the transfer of contractual rights.
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