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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 Oklahoma, 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. Oklahoma follows the common law principle that contractual rights can be assigned unless the assignment would materially alter the duties of the obligor, increase the obligor's burden, or impair the chance of obtaining performance. The contract may contain a specific clause that outlines the conditions under which an assignment is allowed or prohibited. If such a clause exists, the parties must adhere to its terms. If a contract is silent on the issue of assignment, it is typically assumed that assignment is allowed. However, certain types of contracts, such as personal service contracts or contracts with a highly personal nature, are generally not assignable. It is important for parties considering an assignment to review the contract carefully and consult with an attorney to ensure that the assignment is carried out in accordance with Oklahoma law and the terms of the contract.

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Contracts

assignment

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Oklahoma State Code

Oklahoma State Code

Contracts

assignment

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