What is an assignment of rights?

An assignment of rights is a legal concept that applies to contract law in Nebraska. Essentially, it is a transfer of the rights and benefits of a contract from one party to another. This type of transfer is often done when goods are bought and sold or when an individual wishes to assign their rights to another party. In Nebraska, an assignment of rights is typically done through writing and must be signed by both parties. This is to ensure that the transfer was done knowingly and intentionally. The individual transferring the rights is known as the assignor, while the individual receiving the rights is known as the assignee. Once the assignment is complete, the assignee will have all the same rights and benefits as the assignor does. This means that they will be able to enforce the contract, get the benefits of the contract, and be bound by the obligations of the contract. However, the assignor will no longer be responsible for any of these things and will not be able to enforce the contract. Assignment of rights can be a great way to transfer the benefits of a contract without having to completely change the contract itself. This can be important in cases where the assignor is not able to fulfill their obligations but still wants the other party to receive what was promised.

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