Notice Of Assignment Without
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FAQ
An assignment must be clear and unequivocal; There must be clear evidence of the intent to transfer rights; An assignment must describe the subject matter of the assignment; Notice to the obligor.
That no assignment clause says that neither party can transfer or assign this agreement without the written consent of the other party. If you look at the assignment clause, that generally makes sense, because you may not want to be in a contract with a new person that you didn't initially know about.
Notice to the debtor of an assignment is not necessary to render the assignment binding as between the assignor and the assignee. However, a debtor is not bound by the transaction until he/she receives notice of the assignment.
The assignor must receive consideration for the agreement, otherwise the assignment will be ineffective. However, an absolute assignment does not require consideration to be given.
What Is a Non-Assignment Provision and Why Do You Need It? Generally speaking, contracts can be freely assigned to third parties. Non-assignment provisions are designed so that contracts cannot be as freely assigned to third parties; or at least, not without first obtaining the contracting counterparty's consent.