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 Arizona, 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. Arizona law recognizes the right to assign a contract, and such an assignment transfers the assignor's rights and obligations under the contract to the assignee. However, it's important to review the specific contract language, as many contracts contain an 'assignment clause' that may restrict or completely prohibit assignment without the other party's consent. If the contract is silent on assignment, it is typically allowed, but certain types of contracts, such as those involving personal services or where the assignment would materially alter the other party's expectations, may not be assignable. It's advisable to consult with an attorney to understand the specific implications of assigning a contract in Arizona.