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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 New Jersey, 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. New Jersey courts typically uphold the terms of the contract as written, so if a contract contains a clause that restricts or prohibits assignment, that clause is usually enforceable. However, certain types of contracts, such as personal service contracts or contracts that involve a unique personal skill or trust, are typically not assignable. Additionally, if a contract requires the other party's consent for assignment, then the assignor must obtain that consent before the assignment can be valid. It's important for parties to a contract to review the specific terms regarding assignment and to consult with an attorney if they have questions about their rights and obligations under New Jersey law.

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Contracts

assignment

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Contracts

assignment