ContractsAssignmentMEDIUM
Assignment of a Vermont real estate contract:
Correct Answer
B) Transfers the assignor's rights to a third party
Unless the contract prohibits it, assignment transfers the assignor's rights (and sometimes obligations) to a third party. The original party may remain liable unless a novation occurs.
Answer Options
A
Is always prohibitedB
Transfers the assignor's rights to a third partyC
Automatically releases the original partyD
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Related Topics & Key Terms
Related Topics:
novationtransferability
Key Terms:
assignmenttransferstill liablenovation needed
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