7. Describe by legal name all parties to a contract assignment. May all rights be assigned?...

7. Describe by legal name all parties to a contract assignment. May all rights be assigned? Are anti-assignment clauses in a contract allowed to prevent assignments?

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Describe by legal name all parties to a contract assignment.

Assignor: The party handling a contract’s obligations and benefits to another party is known as assignor.

Assignee: The party receiving a contract’s obligations and benefits from another party are known as assignee.

Guarantor: In some contracts, there may be a Guarantor who is a person who agrees to pay a debt if the primary debtor does not.

May all rights be assigned?

No, under delegation of performance clauses, all rights can be assigned to the assignee except where the assignment would materially change the duty of other party or it increases the material burden imposed on him or impair his chance of obtaining return performance.

Are anti-assignment clauses in a contract allowed to prevent assignments?

Anti-assignment clauses are mentioned in a contract to prohibit one party from handling obligations and benefits of an assignment to another party. Absent of anti-assignment clause enables a party to transfer the obligations and benefits to other party.

ekkarill92 answered 2 years ago

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