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 North Carolina, 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. Contractual rights can be assigned without the consent of the obligor unless the contract stipulates otherwise, or the assignment would materially alter the duties of the obligor, increase the obligor's burden, or impair the chance of obtaining performance. When a contract is assigned, the assignee steps into the shoes of the assignor and assumes the rights and responsibilities under the contract. However, for the assignment to be effective, the assignee must notify the obligor of the assignment. It's important to note that while rights under a contract can typically be assigned, duties and liabilities are not as easily transferable without the consent of the other contracting party. Specific statutes and case law can further define and restrict the assignment of contracts in certain circumstances or types of agreements, such as contracts for personal services or where a statute expressly prohibits assignment.