- Practical Law
Assignment and Assumption Agreement
Practical law glossary item 7-382-3242 (approx. 3 pages).
- United States
Assignment and Assumption Agreement (Contribution to Joint Venture) | Practical Law
Assignment and Assumption Agreement (Contribution to Joint Venture)
Practical law standard document w-016-1397 (approx. 10 pages).
Assignment And Assumption Agreement
Jump to section, need help with a legal contract, what is an assignment and assumption agreement.
An assignment and assumption agreement transfers one party's rights and obligations to a third party. The party making the assignment is called the assignor, while the third party accepting the assignment is known as the assignee.
The assignor assigns their rights and duties under the contract to the assignee and the assignee accepts, or "assumes," those rights and duties.
The other party to the initial contract must also consent to the transfer of rights and obligations to the assignee. For a valid assignment and assumption agreement, the initial contract must provide for the possibility of assignment by one of the initial contracting parties.
Common Sections in Assignment And Assumption Agreements
Below is a list of common sections included in Assignment And Assumption Agreements. These sections are linked to the below sample agreement for you to explore.
Assignment And Assumption Agreement Sample
Reference : Security Exchange Commission - Edgar Database, EX-99.D.13 3 d416323dex99d13.htm ASSIGNMENT AND ASSUMPTION AGREEMENT , Viewed October 6, 2021, View Source on SEC .
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