Warning

Info

LSDefine

Simple English definitions for legal terms

assignment

Read a random definition: asset-based financing

A quick definition of assignment:

Assignment is when one person gives something they own, like property or rights, to another person. This can happen in contracts or property law. For example, if someone agrees to teach guitar to another person for $50, they can assign that contract to someone else who will then be responsible for teaching guitar and paying the $50. There are rules about how assignments can be made, like not being able to assign something that hasn't been agreed upon yet, and the person who is supposed to do something can still sue the person who was assigned the contract if they don't do what they're supposed to do. In property law, assignment often happens when someone is renting a place and wants someone else to take over the lease.

A more thorough explanation:

Assignment is a legal term that refers to the transfer of rights, property, or benefits from one person (the assignor) to another person (the assignee). This concept is used in both contract and property law.

Under contract law, assignment of a contract involves the transfer of both rights and duties. For example, if person A contracts with person B to teach B guitar for $50, A can assign this contract to person C. This means that A is transferring their rights to the $50 payment to C, and delegating their duty to teach guitar to C. In this example, A is both the "assignor" and the "delegee," C is the "obligor" who must perform the obligations to the assignee, and B is the "assignee" who is owed duties and is liable to the "obligor."

There are a few rules regarding assignments under contract law. First, an individual cannot assign their future right to an assignee if they have not yet secured the contract to perform duties to another. Second, rights cannot be assigned 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 person A is renting from landlord B but wants another party (person C) to take over the property, A might be able to choose between assigning and subleasing the property to C. If assigning, A would be giving C the entire balance of the term, with no reversion to anyone, whereas if subleasing, A would be giving C the property for a limited period of the remaining term. Significantly, under assignment, C would have privity of estate with the landlord while under a sublease, C would not.

Person A has a contract with person B to paint their house for $500. A can assign this contract to person C, who will then be responsible for painting the house and paying A the $500. In this example, A is the assignor, B is the obligor, and C is the assignee.

Another example is if person A is renting an apartment from landlord B but wants to move out before the lease is up. A can assign their lease to person C, who will then become the new tenant and be responsible for paying rent to landlord B. In this example, A is the assignor, B is the landlord, and C is the assignee.

These examples illustrate how assignment involves the transfer of rights and duties from one person to another, and how it can be used in both contract and property law.

assignee | assignment for benefit of creditors

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
shaquilleoatmeal
12:29
damn ;/ it is break up season dawg, i'm sorry you're going through that
12:29
it really is breakup season
shaquilleoatmeal
12:29
i lived with my ex for 3 months after we broke up and it was brutal. If you can move out quicker rather than later
thanks shaq! i just needed some input from people who are looking from the outside in
im gonna pack up my stuff and leave for a few days when i get off work
12:31
sometimes I think about things my ex said and did to me and a year later it still makes me so sad that I ever let myself be treated that way
shaquilleoatmeal
12:32
yee bud clear your head how you need, shit sometimes even just driving with no destination and some sad ass music can get you through this
shaquilleoatmeal
12:32
you grow through what you go through bunny, you know for the next relationship what you deserve
I want to run you guys through a scenario to see what yall think. Go to off topic for the one time lol
12:34
gotchu
hello friends
13:09
Yo
lawguy we're nearly stats twins :D
13:13
I saw that, and I saw you got the Georgetown interview invite yesterday too! Goodluck!
you too haha, i was super surprised to have received one so early not gonna lie
i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
17:13
Anyone going to the UGA zoom thing on the 22nd?
17:16
My bad, 24th*
Idk, what's it for?
@Law-Guy: How'd you get the Vandy fee waiver?
17:32
What does going ur3 in 3 days mean at Uva 😅
LSD+ is ad-free, with DMs, discounts, case briefs & more.