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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 South Dakota, 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 of an assignor to transfer their rights and responsibilities under a contract to an assignee. However, the assignee must be capable of performing the contractual obligations, and the assignment must not be prohibited by the contract or by law. Contracts often contain specific clauses that outline the conditions under which an assignment is allowed or prohibited. If such a clause is present, it must be adhered to. If the contract is silent on the matter of assignment, it is typically assumed that the contract rights can be assigned. It is important to note that while rights under a contract can be assigned, duties and liabilities are not as easily transferable without the consent of the other contracting party. An attorney can provide specific guidance on the implications of assigning a contract in South Dakota.

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Contracts

assignment

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South-Dakota State Code

South-Dakota State Code

Contracts

assignment

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