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Contract Assignment

This document assigns a contract from an Assignor to an Assignee. The Assignor entered into a contract previously and now wants to transfer their rights and obligations under that contract to the Assignee. The Assignee agrees to accept the assignment and assumes all duties and responsibilities that the Assignor had under the original contract. In exchange, the Assignee pays the Assignor cash for the assignment of the contract. The assignment transfers all rights, title and interest in the original contract from the Assignor to the Assignee and releases the Assignor from any further obligations.

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223 views3 pages

Contract Assignment

This document assigns a contract from an Assignor to an Assignee. The Assignor entered into a contract previously and now wants to transfer their rights and obligations under that contract to the Assignee. The Assignee agrees to accept the assignment and assumes all duties and responsibilities that the Assignor had under the original contract. In exchange, the Assignee pays the Assignor cash for the assignment of the contract. The assignment transfers all rights, title and interest in the original contract from the Assignor to the Assignee and releases the Assignor from any further obligations.

Uploaded by

FindLegalForms
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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CONTRACT ASSIGNMENT

This Contract Assignment (the Assignment) is made and entered into this
________________ day of __________________ 20__ , by and between
_________________of __________________________________, (the Assignor), and
____________________of ___________________________________(the Assignee).
BACKGROUND:
A. The Assignor has entered into certain Contract dated _______________
_____________
(the
Contract)
between
Assignor
and
_______________________,
for
the
following
purpose:
__________________________________________________________________. A true
copy of this Contract is attached as Exhibit A to this Assignment.
B. WHEREAS, Assignor desires to transfer and assign to Assignee its rights,
duties and obligations under the said Contract;
C. The Assignee is willing to release Assignor from the obligations
enumerated in the Contract and to consent to Assignee assuming such
obligations;
For good and valuable consideration, it is agreed by and between the parties
that:
The Assignor hereby assigns, transfers and assigns to Assignee all rights, title
and interest held by the Assignor in and to Contract.
Assignee hereby accepts such assignment and agrees to assume all of Assignor's
rights, duties and
obligations in, to the Contract. Upon such assignment,
Assignor shall be released from all rights, duties and obligations under the
Agreement.
In consideration of the Assignment of the Contract, Assignee is hereby paying to
Assignor an aggregate purchase price of ______________________________ Dollars in
cash, by such means as may be agreed by Assignor and Assignee.
The Assignor hereby warrants and represents that the Contract is in full force and
effect. The Assignor further warrants that it has full right and authority to assign
the said Contract and that the Contract rights herein transferred are free of lien,
encumbrance or adverse claim.
The Assignee hereby assumes and agrees to perform all material obligations of
the Assignor under the Contract from the effective date of this Assignment. The
Assignee hereby agrees to indemnify and hold the Assignor harmless from any
claim or demand resulting from any breach of obligations hereunder by the
Assignee.
All moneys due under the Agreement prior to the effective date of this
Assignment shall be fully paid to the Assignor and thereafter the Assignee shall
be entitled to all money remaining to be paid under the contract.

This Assignment shall be binding upon and inure to the benefit of the parties,
their successors and assigns.
This Assignment shall be governed by the laws of the State of
___________________, applicable to agreements executed and to be performed
entirely therein.
Signed this _____________ day of ___________________, 20________.
____________________________
Assignor
____________________________
Assignee

Exhibit A
Contract

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