Asked by Elizabeth Candelmo on Jun 13, 2024
Verified
When an assignor transfers her rights to an assignee, the assignor legally gives up all rights to collect on a contract.
Assignor
A person or entity who transfers obligations along with rights to another party in the context of a legal agreement.
Assignee
A person, company, or entity who is transferred the rights or interests of another's contract or property.
- Differentiate between the roles and rights of assignors and assignees in the assignment process.
Verified Answer
CG
ciara grahamJun 15, 2024
Final Answer :
True
Explanation :
When an assignor transfers her rights to an assignee, the assignor legally gives up all rights to collect on the contract, as those rights are now held by the assignee.
Learning Objectives
- Differentiate between the roles and rights of assignors and assignees in the assignment process.