Draft contracts faster by searching through millions of contracts from the best law firms across all industries. Assignment of Contracts. At the option of Buyer, and notwithstanding anything in this Agreement to the contrary , this Agreement shall not constitute an assignment of any claim , contract, license , franchise , lease , commitment, sales order , sales contract , supply contract , service agreement , purchase order or purchase commitment if an attempted assignment thereof without the consent of a third party thereto would constitute a breach thereof or in any way adversely affect the rights of Buyer thereunder. If such consent is not obtained, or if any attempt at an assignment thereof would be ineffective or would affect the rights of the Company thereunder so that Buyer would not in fact receive all such rights, the Company shall cooperate with Buyer to the extent necessary to provide for Buyer the benefits under such claim, contract, license, franchise, lease, commitment, sales order, sales contract, supply contract, service agreement, purchase order or purchase commitment, including enforcement for the benefit of Buyer of any and all rights of the Company against a third party thereto arising out of the breach or cancellation by such third party or otherwise.
Contract Assignment Agreement
Assignments: The Basic Law | Stimmel Law
Sometimes you need some extra hands, and it's necessary to assign one of your contracts to another party. An Assignment Agreement can help you hand over contractual rights or responsibilities, while helping to protect your own legal rights and obligations. An Assignment Agreement, sometimes called a Contract Assignment, allows you to assign your contractual rights and responsibilities to another party. For example, if you're a contractor who needs help completing a job, you can assign tasks and entitlements to a subcontractor, as long as the original contract doesn't forbid the assignment of these rights and duties. 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 and its expiration date; whether the original contract requires the obligor's consent prior to assigning rights; when the obligor's consent was obtained; when the agreement will go into effect; and which state's laws will govern the agreement. How It Works Create your document Answer a few simple questions to make your document in minutes. Making an Assignment Agreement.
Understanding an Assignment and Assumption Agreement
Assignment of contract allows one person to assign, or transfer, their rights, obligations, or property to another. An assignment of contract clause is often included in contracts to give either party the opportunity to transfer their part of the contract to someone else in the future. Many assignment clauses require that both parties agree to the assignment. Learn more about assignment of contract and how it works.
To measure specific needs for a various number of situations, Contract Forms will certainly come in handy. These forms are documents that legally bind two or more parties and outline specific terms and conditions that they need to agree on. One example of such a form is the Contract Assignment Form. Ideally, the first party wants the second party to take his place and accept all of his contractual duties and rights.