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Assignment of Agreement or Obligations

/əˈsaɪnmənt ʌv əˈgrimənt ɔr ˌɑbləˈgeɪʃənz/

Definition

An assignment of rights and obligations under a contract occurs when a party assigns their contractual rights to a third party. The benefit that the issuing party would have received from the contract is now assigned to the third party

Source: Upcounsel

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