How an Assignment of Contract Works (and When It Won’t)
May 7, 2019When one party to a contract transfers the obligations and rights under that contract to another party (the assignee), this is known as an assignment of contract. The assignee is then expected to carry out all the duties under the original contract in place of the original contracting party and the other part…
DetailsConsideration: An Essential Element in a Valid Contract
March 1, 2019No contract is valid without the inclusion of consideration, which is an exchange of items of value between the two contracting parties. Considerations may consist of money, services, stock, promissory notes, intellectual property, or other tangible items of value. There are no limits on these exchanges unless they…
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