In a real estate contract, assignment means:
Correct Answer
B) The assignor transfers their contractual rights to a third party
Assignment transfers the assignor's contractual rights to a third party (the assignee). Unless the contract expressly prohibits assignment, it is generally allowed in Mississippi. Importantly, unlike a novation, assignment does not automatically release the original party from liability — the assignor remains secondarily liable unless the other contracting party agrees to release them.
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