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LSDefine
Simple English definitions for legal terms
new assignment
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A quick definition of new assignment:
An assignment is when someone gives their rights or property to someone else. It can be a transfer of money, property, or a job. There are different types of assignments, like when someone gives their wages to a creditor or when a widow gets a share of her husband's property. A new assignment is when someone restates their claim in a lawsuit because the first one wasn't clear enough.A more thorough explanation:
A new assignment refers to a task, job, or appointment given to someone. It can also mean the transfer of rights or property from one person to another. For example, when a person transfers their stock options to someone else, it is called an assignment.
Here are some examples:
- John received a new assignment from his boss to lead a project.
- The aunt assigned the funds to her niece, who invested them in mutual funds.
- A company's trademark was transferred separately from the goodwill of the business, which is called an assignment in gross.
These examples illustrate how a new assignment can refer to a task or job given to someone, as well as the transfer of property or rights from one person to another.