====== Assignment ======

An **assignment** is the **transfer of rights or interests** in a contract from one party to another, **without releasing the original party from liability**.

===== Key Characteristics =====
  * Transfers **rights**, not obligations
  * Original party remains **liable**
  * Does **not require consent** of the other party unless restricted
  * Common in leases and contracts

===== Assignment in Real Estate =====
  * Tenant assigns lease to a new tenant
  * Original tenant remains responsible for rent and performance
  * Landlord may restrict assignment by lease terms

===== Assignment vs Novation =====
  * **Assignment**
    * Original party remains liable
    * Only rights are transferred

  * **[[Novation]]**
    * Original party is released
    * Entire obligation is replaced

===== Common Restrictions =====
  * Contracts may prohibit assignment
  * Leases often require landlord approval
  * Some contracts are non-assignable by law

===== Exam Tip =====
  * Assignment does **not extinguish** the original contract
  * Liability remains unless a **[[novation]]** occurs