Assignment of Rights

An assignment is the transfer of contractual rights from one party to another. In this arrangement, the obligor owes performance to the assignor, who then transfers the right to receive that performance to the assignee. Generally, all contractual rights are assignable except those that: (1) would materially alter the obligor's duties or increase the obligor's risk, (2) involve future rights arising from future contracts, or (3) are prohibited by law.