In a Delaware real estate contract, an assignment:

Correct Answer

B) Transfers the assignor's contractual rights to a third party

Assignment transfers contractual rights to a third party. In Delaware, contract rights are generally assignable unless the contract expressly prohibits it. However, unlike a novation, an assignment does not automatically release the original assignor from liability — the assignor typically remains liable for performance unless the other party expressly agrees to release them through a novation. No Commission approval is required for a valid assignment.