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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 Mississippi, 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. State law recognizes the right to assign contracts, and this is a common practice in various types of agreements, including leases, business contracts, and others. However, certain contracts, such as personal service contracts or those involving highly specialized services, may not be assignable due to the personal nature of the services to be performed. Additionally, if a contract requires the consent of the other party before an assignment can be made, such consent must be obtained. It's important to review the specific language of the contract's assignment clause to understand the rights and limitations regarding assignment. If the contract is silent on the matter, generally, the rights under the contract can be assigned without the other party's consent, except when the assignment would materially alter the other party's expected performance under the contract.

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Contracts

assignment

As a LegalFix Member You Will Be an Important Client of Local Law Firms

Articles

Mississippi State Code

Contracts

assignment

Mississippi State Code

Articles