Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

assign

Read a random definition: captive-audience doctrine

A quick definition of assign:

Assigning means giving something to someone else. This can happen in two ways: (1) giving someone else the rights and responsibilities of a contract you have with someone else, or (2) giving someone else the property you are renting from someone else. When you assign a contract, you are giving someone else the right to do what you were supposed to do and the responsibility to do it. For example, if you were supposed to teach someone guitar for $50, you could assign that contract to someone else who would then be responsible for teaching guitar and getting paid. There are rules about assigning contracts, like you can't assign a contract that hasn't been made yet, and the person you were supposed to do something for can sue the person you assigned the contract to if they don't do what they were supposed to do. When you assign property, you are giving someone else the right to use it for a certain amount of time. For example, if you were renting a house from someone, you could assign the rental agreement to someone else who would then be responsible for paying rent and living in the house. There are different rules for assigning property, like the person you assign it to might have different rights than you did, depending on how you assign it.

A more thorough explanation:

Assign is when one party transfers rights, property, or benefits to another party. This can happen in both contract and property law.

Under contract law, when one party assigns a contract, they are transferring both their rights and duties to another party. For example, if A contracts with B to teach B guitar for $50, A can assign this contract to C. Here, A is transferring their rights to the $50 and their duty to teach guitar to C. In this example, A is the "assignor," C is the "assignee," and B is the "obligor."

There are a few rules regarding assignments under contract law. First, you cannot assign your future right to an assignee if you have not yet secured the contract to perform duties to another. Second, you cannot assign rights if they materially change the obligor's duty and rights. Third, the obligor can sue the assignee directly if the assignee does not pay them.

Under property law, assignment typically arises in landlord-tenant situations. For example, if A is renting from landlord B but wants another party (C) to take over the property, A can choose between assigning and subleasing the property to C. If assigning, A would give C the entire balance of the term, with no reversion to anyone. Under a sublease, A would give C the property for a limited period of the remaining term.

Under assignment, C would have privity of estate with the landlord while under a sublease, C would not.

If A assigns their contract with B to C, C is now responsible for paying A the $50 and teaching guitar to B. If C does not pay A, B can sue C directly. If C does not teach guitar to B, B can sue C and then compel A to fulfill the duties under secondary liability.

asset purchase agreement | assigned risk

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
18:14
omg me too
BulbasaurNoLikeCardio
18:15
@EvolBunny: I am fine with them making their cut and all that but I bought it with an adjustable gas block, new LVPO and foregrip so I just have a bunch of parts and ammo with no way to shoot it
@BulbasaurNoLikeCardio: i mean getting paid for their incompetence is based
18:15
they think you are going to attack dj trump
BulbasaurNoLikeCardio
18:18
@BulbasaurNoLikeCardio: they blaimed it on their IT team for not updating it as out of stock when I paid but like buying something in stock in September then being told I won't get it until mid January is pretty wild. I do not hunt anymore but their mistake would of caused me to miss the entire season. If it wasn't so hard to get left handed ARs I would of gone elsewhere
oh that's kind of worth more than $140
that's at least $300
18:19
@BulbasaurNoLikeCardio: what you gonna do when january hits and they are like "it still isnt here come back in april"
BulbasaurNoLikeCardio
18:20
Its a $600 part, they already covering shipping and paying the tax so $140 is an additional 25% off.
BulbasaurNoLikeCardio
18:20
If it doesn't come January I am going to just say fuck it and toss everything on the right handed upper and just eat gas.
18:21
You should have said to refund you or give 300 off
18:21
wasp is wasp
18:21
knows how be rich and demand shit lmfao
i am atheist not protestant
18:22
same thing tho ya? - catholic
BulbasaurNoLikeCardio
18:23
Ill just keep arguing for more money off until I get it or they end up paying me to take it lmao
18:24
what other guns ya got
are we losing hope for gtown lol
yeah i dont think gtown does A's this late unfortunately
18:25
it is like 630 on a friday there bud
18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
PerpetualCheerfulBeaver
18:53
I really thought a texas schools wave was going to hit today...guess it will be December 1
7Rings
19:00
No news is good news 😜
PerpetualCheerfulBeaver
19:10
the mentality im embracing
ClassyPleasantHeron
19:23
You will see some A waves next week, just before Thanksgiving. Schools like to give people things to talk about over the holidays.
19:26
my predict monday berk from earlier td
LSD+ is ad-free, with DMs, discounts, case briefs & more.