Assignment of Rights and Delegation of Duties Flashcards
(4 cards)
1
Q
Assignment
A
Assignment is the transfer of rights under a contract. Almost all contract rights can be assigned. Partial assignments are permissible, as is the assignment of future or unearned rights.
2
Q
Delegation
A
Delegation is the transfer of duties and obligations under a contract. As a general rule, most obligations under a contract can be delegated.
3
Q
Gratuitous Assignment
A
A gratuitous assignment is an assignment that is not supported by consideration.
4
Q
Novation
A
A novation is the substitution of a new contract for an old one when the original obligor is released from his promises under the original agreement.
