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Contracts

assignment

The assignment of a contract occurs when one party to the contract (the assignor) transfers its rights and responsibilities under the contract to another person or entity (the assignee)—usually someone who was not a party to the original contract.

Contracts often include a paragraph or clause near the end of the agreement that addresses whether the parties may assign the contract.

In Arkansas, the assignment of a contract is generally permissible unless the contract itself prohibits it or if the assignment would significantly change the obligations of the other party. Arkansas law recognizes the right of a party to a contract (the assignor) to transfer their rights and duties under the contract to another party (the assignee). However, certain types of contracts, such as those involving personal services or contracts where the performance is highly specific to the assignor, may not be assignable. Additionally, if a contract includes a non-assignment clause, then the parties must adhere to that clause, and any attempt to assign the contract in violation of such a clause would typically be invalid. It is important for parties to review the contract terms carefully to understand any restrictions on assignment and to consider the legal implications before proceeding with an assignment of contract rights and responsibilities.

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Contracts

assignment

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Arkansas State Code

Arkansas State Code

Contracts

assignment

Articles