Document background
The Contract Assignment Agreement (Sell A Contract) is essential when a party wishes to transfer their rights and obligations under an existing contract to another party. This document is commonly used in business restructuring, asset sales, or when a party needs to exit a contractual relationship. Under U.S. law, most contract rights are assignable unless specifically prohibited by the original agreement or statute. This document includes critical elements such as the terms of assignment, consideration, warranties about the original contract's validity, and any required consents or notices.
