Which of the following statements best describes the term "assignment"?
A)It is the conveyance of rights in a contract to a person who is not a party.
B)It is the termination and replacement of an old contract.
C)It is the transfer of duties alone without a transfer of rights.
D)It consists of an assignee who is the party making the assignment.

Question

Which of the following statements best describes the term "assignment"?  ​
A)It is the conveyance of rights in a contract to a person who is not a party.
B)It is the termination and replacement of an old contract.
C)It is the transfer of duties alone without a transfer of rights.
D)It consists of an assignee who is the party making the assignment.

Quizplus · Accepted Answer

Assignment refers to the process of transferring the rights or benefits of a contract from one party (the assignor) to another party (the assignee) who was not originally a party to the contract.

Which of the Following Statements Best Describes the Term "Assignment