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Contract Assignment Agreement

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What is a contract assignment agreement.

A contract assignment agreement is a document that transfers the contractual rights and duties of one party to another. The other party involved in the contract must agree to the terms of the transfer as well as they will now be in a contractual agreement with a different party.

Contract of assignment agreements must not violate any other laws or statutes in order to be enforced. The original contract must also allow assignments, or at least not explicitly prohibit them. Contract of assignment agreements cannot alter what is expected from the original contract.

Contract Assignment Agreement Sample

Reference : Security Exchange Commission - Edgar Database, EX-10.45 61 dex1045.htm ASSIGNMENT OF CONTRACT , Viewed October 27, 2022, View Source on SEC .

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Meet some of our Contract Assignment Agreement Lawyers

Agnes Mombrun Geter is the Founder and Managing Attorney of Mombrun Law, PLLC. She is an experienced attorney and is a member of the Florida Bar, New Jersey Bar, and the Pennsylvania Bar. The firm's practice focuses on Estate Planning, Business Law, and Debt Settlement including IRS Debt Relief. The firm's goal is to simplify the law and provide clients with the confidence and information necessary to make their decisions. The firm also provides project-based legal services to other attorneys and law firms, along with assisting as personal counsel and local counsel on legal matters.

Have over 40+ years of corporate and commercial law experience.

I am a business attorney with years of experience advising individual entrepreneurs and small businesses on issues ranging from entity selection/formation to employment law compliance, to intellectual property protection and exploitation. I often act as General Counsel for my clients fulfilling the legal function as part of a team of managers. I look forward to learning more about your business and how I may be of assistance.

Christopher R.

Corporate and transactional attorney in sixth year of practice. Focus areas include general corporate counsel, labor and employment law, business partnership matters, securities matters related to privately-held companies, and regulatory compliance in securities and finance matters.

Forest is a general practice lawyer. He provides legal advice regarding small business law, contracts, estates and trusts, administrative law, corporate governance and compliance. Forest practiced complex commercial litigation in Florida for eight years, representing clients such as Host Marriott, Kellogg School of Business, and Toyota. Since moving to Nashville in 2005, he has provided legal advice to clients forming new businesses, planning for the future, and seeking funding through the use of equity and/or debt in their businesses. This advice has included the selection of business type, assistance in drafting and editing their business plans and offering material, reviewing proposed term sheets, and conducting due diligence. Forest is a member of the Florida, Tennessee, and Texas Bars; in addition. Forest has held a Series 7, General Securities Representative Exam, Series 24, General Securities Principal, and Series 63, Uniform Securities Agent State Law.

CA, NY, and FL licensed attorney with nearly a decade of experience in intellectual property, data privacy, commercial contracts, and employment. I also have both the CIPP/US and CIPP/E privacy credentials. Basically, everything your business needs!

David H. Charlip, the principal of Charlip Law Group, LC, is one of only 101 Board Certified Civil Trial Lawyers in Miami-Dade, with over 40 years of litigation experience. Mr. Charlip is also one of only 136 Florida Civil Law Notaries. He is also a Florida Supreme Court Certified Circuit Civil Mediator and a Florida Supreme Court Approved Arbitrator. He has managed and litigated cases across the country. Mr. Charlip has advised businesses, drafted business formation and purchase and sale documents and litigated business disputes for over 40 years and is very familiar with all aspects of contractual relations.

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What Is an Assignment & Security Agreement?

by Brian Bass

Published on 26 Sep 2017

An assignment and security agreement is a contract that deals with the legal transfer of rights of ownership. Both an assignment and a security agreement are individual components of contract law. While an assignment and a security agreement can overlap, you should generally consider both of these legal concepts separate legal agreements.

Security Agreement

A security agreement is a part of contract law that covers financial transactions. These transactions, also known as secured transactions, involve a grantor promising collateral to a grantee. The security agreement in contract law does not cover actual land or real estate. Rather, a security agreement typically covers a vehicle, stock, livestock or some other form of personal property. In a security agreement, if the grantee already possesses the collateral, the grantor may secure the transaction verbally. However, a written security agreement is always preferable to a verbal security agreement in case of a disagreement between parties.

Assignment is part of common law that deals with transferring rights from one individual or party to another. The assignment agreement usually shows up in real estate dealings but can also exist in other contexts as well. However, an assignment is only the contractual transfer of benefits that have accrued or will accrue. With an assignment, the obligations do not transfer alongside the benefits. The obligations will always remain with the assignor. As with a security agreement, a verbal assignment while legally binding, does not provide either party with the legal protections of a written assignment agreement.

What the Agreements Cover

Both types of agreements, or one agreement including both an assignment and a security agreement, can apply to a range of property rights. For example, these agreements could cover the transfer of the rights to stock investments or the promise to use the stocks as collateral. It is also possible for these agreements to cover less tangible types of property. For example, these agreements could apply to creative rights, such as written works or a film production. In the case of creative rights, the benefits typically include future revenues earned from the sale or distribution of said works.

Drafting an Agreement

Although the parties involved may agree on each type of contract verbally, a written contract is always preferred. You can hire an attorney to draft a legal assignment and security agreement for you. However, there are also less expensive services that you can use to assist you in drafting your own contracts. For example, you can purchase software that uses a template to generate assignment and security agreements, or you could purchase a book or generic contract forms at your local bookstore. Unless you have specific legal knowledge about assignments and security agreements, however, you should always consult with an attorney before using any self-generated contract forms. Both assignment and security agreements are complex areas of contract law.

Assignment Agreement Definition: Everything You Need to Know

The assignment agreement definition is a part of the common law that is in charge of transferring the rights of an individual or party to another. 3 min read updated on February 01, 2023

The assignment agreement definition is a portion of the common law that is in charge of transferring the rights of an individual or party to another person or party. The assignment agreement is often seen in real estate but can occur in other contexts as well. An assignment is just the contractual transfer of benefits that will accrue or have accrued. Obligations don't transfer with the benefits of an assignment. The assignor will always keep the obligations.

Security Agreement

A part of contract law that is responsible for financial transactions is a security agreement. These are also called a secured transaction and include a grantor that promises collateral to the grantee. In contract law, the security agreement doesn't cover actual real estate or land. Instead, this agreement covers stock, vehicle, livestock, or another type of personal property. In a security agreement, in the case where a grantee already has the collateral, the grantor can verbally acquire the transaction.

However, it's preferred to have a security agreement that is written down instead of having a verbal agreement, just in case there's a disagreement among the parties. Both a security agreement and an assignment may apply to a variety of property rights.

Example of Using Assignment and Security Agreements in Property Rights

As an example, the agreements may cover the promise to use stocks as collateral or to transfer the rights of stock investments. It may also be possible for the agreements to include properties that are less tangible. The agreements may apply to creative rights, such as film production or written works. If it is a case of creative rights, any benefits often include future revenue that may be earned from the distribution or sale of said works.

How Can an Attorney Help You?

You may want to hire an attorney to help you draft a security agreement and legal assignment. There are other services that you might want to use that don't cost as much but will still help you draft your contracts. The following are ways to save money while drafting a contract:

• Buy software with a template that creates security agreements and assignments.
• Buy a generic contract form at the bookstore.
• Buy a book with advice.

Unless your background includes knowing particular legal knowledge about security agreements and assignments, you'll want to talk to an attorney before you use any contract forms that are self-generated. Both security agreements and assignments are complicated areas of contract law.

Lease Assignment Definitions

An agent is someone who is licensed by the state where a property is established to aid in real-estate transactions such as leases , assignments, and property sales. An agent is usually either an attorney, sales agent, or real estate broker. The tenant from the initial lease is the assignor, and he transfers his whole interest to another person. The assignee obtains the lease interest from the assignor or original tenant and will become the new tenant.

Consideration is what the assignor gets from the assignee for transferring the lease interest to the assignee. The consideration is often a certain amount of money. Interests that other people hold are encumbrances, and they can affect the title and possibly the possession and use of the property by the assignee and the assignor.

If the property in question is a residential unit that's above a commercial property, the lease is considered to be a residential one, even though the property is in a commercial building. The governing law is that of the jurisdiction in which the property is located, no matter what jurisdiction the landlord, assignee, and assignor reside in. The assignee is allowed to receive a copy of the master lease. The assignor can either give the assignee a copy directly or include the copy with the lease assignment.

If the assignor isn't liable for the assignee's conduct, the landlord will need to go after the assignee if he or she causes property damage. However, if the assignor has liability for the conduct of the assignee, the landlord may then ask for compensation from both the assignee and assignor should the assignee cause any damage to the property.

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Assignment Agreement Template

Use our assignment agreement to transfer contractual obligations.

Updated February 1, 2024 Reviewed by Brooke Davis

An assignment agreement is a legal document that transfers rights, responsibilities, and benefits from one party (the “assignor”) to another (the “assignee”). You can use it to reassign debt, real estate, intellectual property, leases, insurance policies, and government contracts.

What Is an Assignment Agreement?

What to include in an assignment agreement, how to assign a contract, how to write an assignment agreement, assignment agreement sample.

Partnership Interest

An assignment agreement effectively transfers the rights and obligations of a person or entity under an initial contract to another. The original party is the assignor, and the assignee takes on the contract’s duties and benefits.

It’s often a requirement to let the other party in the original deal know the contract is being transferred. It’s essential to create this form thoughtfully, as a poorly written assignment agreement may leave the assignor obligated to certain aspects of the deal.

The most common use of an assignment agreement occurs when the assignor no longer can or wants to continue with a contract. Instead of leaving the initial party or breaking the agreement, the assignor can transfer the contract to another individual or entity.

For example, imagine a small residential trash collection service plans to close its operations. Before it closes, the business brokers a deal to send its accounts to a curbside pickup company providing similar services. After notifying account holders, the latter company continues the service while receiving payment.

Create a thorough assignment agreement by including the following information:

• Effective Date:  The document must indicate when the transfer of rights and obligations occurs.
• Parties:  Include the full name and address of the assignor, assignee, and obligor (if required).
• Assignment:  Provide details that identify the original contract being assigned.
• Third-Party Approval: If the initial contract requires the approval of the obligor, note the date the approval was received.
• Signatures:  Both parties must sign and date the printed assignment contract template once completed. If a notary is required, wait until you are in the presence of the official and present identification before signing. Failure to do so may result in having to redo the assignment contract.

Review the Contract Terms

Carefully review the terms of the existing contract. Some contracts may have specific provisions regarding assignment. Check for any restrictions or requirements related to assigning the contract.

Check for Anti-Assignment Clauses

Some contracts include anti-assignment clauses that prohibit or restrict the ability to assign the contract without the consent of the other party. If there’s such a clause, you may need the consent of the original parties to proceed.

Determine Assignability

Ensure that the contract is assignable. Some contracts, especially those involving personal services or unique skills, may not be assignable without the other party’s agreement.

Get Consent from the Other Party (if Required)

If the contract includes an anti-assignment clause or requires consent for assignment, seek written consent from the other party. This can often be done through a formal amendment to the contract.

Prepare an Assignment Agreement

Draft an assignment agreement that clearly outlines the transfer of rights and obligations from the assignor (the party assigning the contract) to the assignee (the party receiving the assignment). Include details such as the names of the parties, the effective date of the assignment, and the specific rights and obligations being transferred.

Include Original Contract Information

Attach a copy of the original contract or reference its key terms in the assignment agreement. This helps in clearly identifying the contract being assigned.

Execution of the Assignment Agreement

Both the assignor and assignee should sign the assignment agreement. Signatures should be notarized if required by the contract or local laws.

Notice to the Other Party

Provide notice of the assignment to the non-assigning party. This can be done formally through a letter or as specified in the contract.

File the Assignment

File the assignment agreement with the appropriate parties or entities as required. This may include filing with the original contracting party or relevant government authorities.

Communicate with Third Parties

Inform any relevant third parties, such as suppliers, customers, or service providers, about the assignment to ensure a smooth transition.

Keep Copies for Records

Keep copies of the assignment agreement, original contract, and any related communications for your records.

Here’s a list of steps on how to write an assignment agreement:

Step 1 – List the Assignor’s and Assignee’s Details

List all of the pertinent information regarding the parties involved in the transfer. This information includes their full names, addresses, phone numbers, and other relevant contact information.

This step clarifies who’s transferring the initial contract and who will take on its responsibilities.

Step 2 – Provide Original Contract Information

Describing and identifying the contract that is effectively being reassigned is essential. This step avoids any confusion after the transfer has been completed.

Step 3 – State the Consideration

Provide accurate information regarding the amount the assignee pays to assume the contract. This figure should include taxes and any relevant peripheral expenses. If the assignee will pay the consideration over a period, indicate the method and installments.

Step 4 – Provide Any Terms and Conditions

The terms and conditions of any agreement are crucial to a smooth transaction. You must cover issues such as dispute resolution, governing law, obligor approval, and any relevant clauses.

Step 5 – Obtain Signatures

Both parties must sign the agreement to ensure it is legally binding and that they have read and understood the contract. If a notary is required, wait to sign off in their presence.

Related Documents

• Purchase Agreement : Outlines the terms and conditions of an item sale.
• Business Contract : An agreement in which each party agrees to an exchange, typically involving money, goods, or services.
• Lease/Rental Agreement : A lease agreement is a written document that officially recognizes a legally binding relationship between two parties -- a landlord and a tenant.
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Contract Assignment Agreement

(This may not be the same place you live)

  What Is a Contract Assignment?

In a contract assignment, one of the two parties may transfer their right to the other’s performance to a third party. This is known as “contract assignment.” Typically, all rights under a contract may be assigned. A provision in the agreement that states the contract may not be assigned usually refers to the delegation of the assignor’s (individual who assigns) obligations under that agreement, not their rights.

In modern law, the term “assignment of contract” usually means assigning both rights and duties under a contract.

What Is a Contract Assignment Agreement?

Who are the various parties involved in a contract assignment, how is a contract assignment created, when is a contract assignment prohibited, what should a contract assignment agreement contain, what are some common disputes related to assignment agreements, what is a breach of contract, what are the ways you can breach a contract, do i need a lawyer for help with a contract assignment agreement.

A contract assignment agreement may be created in cases involving a contract assignment. An assignment is where the recipient of products, services, or other rights transfers (assigns) their rights to another party. The party transferring their rights is the assignor, while the party performing the services is dubbed the obligor. The party obtaining the transferred rights is called the assignee.

Contract assignments are often utilized in cases similar to beneficiary and gift-giving situations. Yet, there is frequently a substantial business or commercial component to contract assignments (such as those projects involving commercial building and contracting).

There are two parties to the agreement in a contract, X and Y. The parties may agree to let X assign X’s rights to a third party . Once the third party enters the picture, each party has a particular name. For example, suppose X, a seller of bookmarks, contracts with Y, a purchaser of bookmarks. Y wants to have Y’s right to X’s performance (selling bookmarks every month) to another individual.

This third individual, Z, is dubbed the assignee. X is named the obligor , and Y is named the assignor since Y has assigned its right to X’s performance . X, the obligor, is bound to continue to perform its duties under the contract.

There are no “magical words” required to make an assignment. The law demands that the would-be assignor intend to wholly and immediately transfer their rights in the agreement. In addition, writing is generally not needed to make an assignment. As long as X and Y adequately comprehend what right is being assigned, an assignment is formed.

Comments that demonstrate a transfer is to take place suffice, such as “I plan to transfer my rights under this agreement,” “I plan to give my rights to Z,” or “I plan to confer an assignment on Z.” In addition, consideration, which is a bargained-for exchange needed for a contract to be proper, is not needed for the assignment.

In specific examples, an assignment of contract rights can be restricted. If the agreement includes a clause forbidding assignment of “the contract” without establishing more, the law construes this language as banning only delegation of the assignor’s duties, not their rights.

If the assignment language states “assignment of contractual rights is forbidden,” the obligor may sue for damages if the assignor tries to assign the agreement. If the contract language says that attempts to assign “will be null,” the parties can ban the assignment of rights.

Under current contract law, the expression “I assign the contract” is usually interpreted to mean that one is assigning rights and duties. What is an assignment of duties? An assignment of duties emerges where Y, dubbed the obligor or delegator, promises to perform for X, the obligee. Y then entrusts their duty to perform to Z, the delegate. Under the law, most duties can be delegated.

A contract assignment should include:

• Names of the parties involved
• Depictions of the rights or contract benefits being assigned
• When the assignment takes effect, and whether or not it lapses
• Conditions regarding legal action if a breach or violation of contract should ensue

Most jurisdictions don’t demand a contract assignment to be in writing. Of course, it’s always best to put the agreement in writing to create a record of the transaction if there are any future problems.

Some typical legal problems involving contract assignments include:

• Failure to transfer the rights to the assignee
• Refusal to cooperate with the contract assignment terms
• Use of deception, misrepresentation, or force when dealing with assignment agreement documents
• Blunders or mistakes concerning definitions of the assignment subject

Conflicts oftentimes require legal action in a court of law to settle the legal problems. This can result in a monetary damages award to cover losses caused by a breach of contract. Alternatively, some courts may enforce other remedies such as cancellation or rewriting of the agreement.

A breach of contract may arise when a party to a good agreement has failed to fulfill their side of the deal.

For example, the terms of a contract guide the parties in what they must do and how they should do it to maintain their promise. If a party does not do what the agreement instructs them to do, then the non-breaching party will be entitled to take legal action and file a lawsuit against them in court.

A breach of contract can arise as either a partial or a complete breach. A court will also consider whether the breach was substantial or only a minor one. This will allow the court to decide what type of damages the breaching party should have to expend.

There are three major ways for which a party can be held liable for breach of contract. This includes when:

• There is an anticipatory breach: Often referred to as anticipatory repudiation, this kind of breach happens when the breaching party tells the non-breaching party that they will not be fulfilling the terms of their contract. Once the other party is informed, they can sue for breach of contract.
• A party has committed a minor breach: A minor breach of contract happens when a party fails to perform a small contract detail. The total contract has not been violated and can still be substantially performed in this circumstance. This also comes up when there is a technical mistake with the agreement (e.g., a false date, price, or typo within the terms of the agreement).
• If there is a material or fundamental breach: These are the most standard sorts of breaches cited as the basis of a breach of contract action. When the breach is so substantial, it essentially cancels the contract because it renders performance by either party impossible.

Some other ways that a contract can be breached include when the contract is dishonest, if the contract was formed illegally or is unconscionable, and when there is a mistake of fact present in the agreement terms. The parties may also include conditions unique to their respective agreement, which specify when a party’s actions can be deemed a breach.

Further, state regulations and the type of contract (e.g., lease agreement, sales contract, government contract, etc.) may indicate other ways a contract can be breached.

Contract agreements often require much attention to detail and foresight for anticipating future events. It’s in your best interests to hire a contract lawyer if you need help with any contract matters. Your lawyer can help you with your records and represent you if you ever need to file a claim in court for damages.

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Contract Assignment Agreement

Rating: 4.8 - 105 votes

This Contract Assignment Agreement document is used to transfer rights and responsibilities under an original contract from one Party, known as the Assignor, to another, known as the Assignee. The Assignor who was a Party to the original contract can use this document to assign their rights under the original contract to the Assignee, as well as delegating their duties under the original contract to that Assignee. For example, a nanny who as contracted with a family to watch their children but is no longer able to due to a move could assign their rights and responsibilities under the original service contract to a new childcare provider.

How to use this document

Prior to using this document, the original contract is consulted to be sure that an assignment is not prohibited and that any necessary permissions from the other Party to the original contract, known as the Obligor, have been obtained. Once this has been done, the document can be used. The Agreement contains important information such as the identities of all parties to the Agreement, the expiration date (if any) of the original contract, whether the original contract requires the Obligor's consent before assigning rights and, if so, the form of consent that the Assignor obtained and when, and which state's laws will govern the interpretation of the Agreement.

If the Agreement involves the transfer of land from one Party to another , the document will include information about where the property is located, as well as space for the document to be recorded in the county's official records, and a notary page customized for the land's location so that the document can be notarized.

Once the document has been completed, it is signed, dated, and copies are given to all concerned parties , including the Assignor, the Assignee, and the Obligor. If the Agreement concerns the transfer of land, the Agreement is then notarized and taken to be recorded so that there is an official record that the property was transferred.

Applicable law

The assignment of contracts that involve the provision of services is governed by common law in the " Second Restatement of Contracts " (the "Restatement"). The Restatement is a non-binding authority in all of U.S common law in the area of contracts and commercial transactions. Though the Restatement is non-binding, it is frequently cited by courts in explaining their reasoning in interpreting contractual disputes.

The assignment of contracts for sale of goods is governed by the Uniform Commercial Code (the "UCC") in § 2-209 Modification, Rescission and Waiver .

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.

Other names for the document:

Assignment Agreement, Assignment of Contract Agreement, Contract Assignment, Assignment of Contract Contract, Contract Transfer Agreement

Country: United States

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Ignite Success with an Effective Assignment and Assumption Agreement: A Comprehensive Guide

LegalGPS : July 27, 2023 at 8:01 AM

Running a successful business is all about staying on top of your game—and that includes being able to navigate legally complex situations with ease. One concept that often comes up in the world of contracts is the assignment and assumption agreement. If you're a business owner who needs a quick yet comprehensive rundown of what an assignment and assumption agreement is and how to create one, you've come to the right place.

In this guide, we'll walk you through the ins and outs of assignment and assumption agreements, and even provide you with a step-by-step explanation of how to put one together. So grab your favorite cup of coffee and let's get started!

Being able to efficiently manage and transfer contractual rights and obligations is crucial for businesses of all sizes. Whether you're selling a portion of your company or entering into a new partnership, having a solid assignment and assumption agreement in place can save you time, resources, and potential legal headaches down the line.

That being said, it's important to ensure that your assignment and assumption agreement is accurate, comprehensive, and tailored to suit your specific needs. And that's where this guide comes in. We'll help you understand the role of assignment and assumption agreements in your business and give you the tools you need to create one with confidence.

What is an Assignment and Assumption Agreement?

Before we dive into the nitty-gritty of creating an assignment and assumption agreement, it's important to understand what it is and why it's important for your business. In simple terms, an assignment and assumption agreement is a legal document that transfers the rights and obligations of one party (the "assignor") in an existing contract to another party (the "assignee"). Essentially, it allows one party to step out of a contract and another party to step in, taking over the original party's rights and responsibilities.

An assignment and assumption agreement typically serves a few key purposes, including:

Transferring ownership or control of assets

Refinancing debt or other financial arrangements

Splitting or consolidating business entities

A well-crafted agreement not only helps ensure a smooth transition but also protects all parties involved from potential misunderstandings and disputes.

The Importance of an Accurate Assignment and Assumption Agreement

Now that you have an idea of what an assignment and assumption agreement entails, let's talk about why it's so important to get it right. Without a solid agreement in place, both the assignor and the assignee can face a whole host of problems, from miscommunications to legal disputes.

For one, an unclear or vague agreement can leave both parties open to misinterpretation and misunderstanding, which can result in disputes down the line. This is especially true when considerable assets or financial interests are at stake—having an accurate agreement in place helps protect both parties from future legal battles.

Moreover, without an agreement that specifically assigns rights and obligations to the assignee, the original parties to the contract may still be bound by its terms. This can give rise to unwanted legal complications and may even defeat the purpose of entering into the assignment and assumption agreement in the first place.

In short, a well-written assignment and assumption agreement protects both parties and helps prevent future misunderstandings and disputes.

How to Write an Assignment and Assumption Agreement: Step-by-Step Guide

Now that we've covered why having an accurate assignment and assumption agreement is so crucial, let's walk through how to write one. Keep in mind that every contract is unique, so your agreement should be tailored to your specific situation.

Step 1: Identifying Parties and their Roles

The first step in creating an assignment and assumption agreement is to clearly identify the parties involved and their respective roles. This typically includes the assignor, assignee, and the original counterparty to the contract (the "obligor"). Be sure to include the legal names and contact information for each party, including any business entities, individuals, or other parties that may be involved.

Moreover, all parties should be represented by a lawyer who is licensed to practice law in the state where the property is located.

Step 2: Describing the Original Contract

The next step is to describe the original contract being assigned and assumed, also known as the "underlying contract." This should include a brief description of the terms and conditions of the underlying contract, as well as the date on which it was executed. You may also want to include a reference to the specific section(s) of the underlying contract that permit assignment, if applicable.

For example, if the underlying contract is a lease agreement, you may want to point out that the lease allows for assignment.

Step 3: Detailing the Assignment and Assumption

Now, it's time to get into the heart of the agreement—the actual assignment and assumption. In this section, you'll need to outline the specific rights and obligations being transferred from the assignor to the assignee, including any limitations or conditions related to the transfer.

You should also identify the effective date of the assignment and assumption, which may be the date on which the agreement is executed, or a later date specified by the parties. In some cases, you may also need to consider any rights or obligations that will remain with the assignor after the assignment and assumption take effect.

Step 4: Consent of the Obligor

In some cases, the assignment and assumption of a contract may require the consent of the obligor. If this is the case, you should include a section in your agreement describing the obligor's consent, including any conditions or limitations on the consent, if applicable.

This is important because if the obligor does not consent or if there are conditions on the consent, it may prevent your assignment and assumption from taking effect.

Step 5: Governing Law and Jurisdiction

It's crucial to establish which laws will govern your assignment and assumption agreement, in case any disputes arise later on. Include a section specifying the state or country whose laws will apply to the agreement, as well as the jurisdiction where any legal disputes will be resolved.

However, make sure the law you choose is not one that would be considered unfair to either party. For example, if one of your companies is based in a state that has laws favorable to creditors and the other company is based in a state with more favorable laws for debtors, it may be best to choose another state as your governing law.

Step 6: Signatures

Finally, the last step in creating an assignment and assumption agreement is to have all parties sign and date the document. This is typically done at the end of the agreement, after all terms and conditions have been outlined. Be sure to include lines for the signatures of the assignor, assignee, and the obligor (if their consent is required), as well as a space for each party to print their name and title, if applicable.

Pros and Cons of Using an Assignment and Assumption Agreement Template

When it comes to creating an assignment and assumption agreement, you might be considering using a contract template. While templates definitely have their advantages, such as saving time and ensuring that you cover all of the necessary legal bases, there are also some potential downsides to be aware of.

One major advantage of using a template is that it can save you time by providing a well-structured starting point for your agreement. Templates also generally include the essential sections and clauses that most agreements need, helping to ensure that your agreement is legally compliant and thorough.

The main disadvantage of using a generic template is that it may not be tailored precisely to your specific needs. This can result in an agreement that doesn't fully address the nuances of your situation or provide adequate protection for all parties involved. If you're unsure about whether a template is appropriate for your situation, you should consider consulting a legal professional or purchasing a customizable contract template that can be adapted to your specific circumstances.

The Benefits of Choosing Our Contract Template

There's no doubt that a well-designed contract template can be a game-changer when it comes to drafting assignment and assumption agreements. And that's where our expertly crafted template comes into play. Here's what sets our template apart:

Designed by legal professionals with years of experience

Simplified language for easier understanding

Customizable to suit your specific needs and requirements

By choosing our contract template, you can feel confident knowing that you're getting a legally compliant and strategically sound agreement that's tailored to your situation. So why wait? Purchase our expertly designed assignment and assumption agreement template and ensure your business's success today!

In the world of business, contracts play a crucial role in protecting your assets and interests. And when it comes to assignment and assumption agreements, accuracy and clarity are key. We hope this comprehensive guide has given you the tools and understanding you need to confidently create your own assignment and assumption agreements.

Ready to make your life easier? Grab our expertly designed assignment and assumption agreement template today and streamline your business operations with confidence!

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Agent Removed From Harris’s Detail After ‘Distressing’ Behavior

The Secret Service agent was removed during an incident on Monday morning shortly before Vice President Kamala Harris left for a campaign event in Wisconsin.

By Hamed Aleaziz and Jazmine Ulloa

A U.S. Secret Service agent was removed from Vice President Kamala Harris’s security detail this week after the officer “began displaying behavior their colleagues found distressing,” an agency spokesman said on Thursday.

The incident happened Monday morning at Joint Base Andrews outside of Washington, shortly before Ms. Harris left for a campaign event in Wisconsin. A New York Times reporter who was among the media members traveling with Ms. Harris heard medical personnel trying to calm a person down at the scene. The incident was earlier reported by The Washington Examiner .

“At approximately 9 a.m. April 22, a U.S. Secret Service special agent supporting the vice president’s departure from Joint Base Andrews began displaying behavior their colleagues found distressing,” the Secret Service spokesman, Anthony Guglielmi, said in a statement.

“The agent was removed from their assignment while medical personnel were summoned,” Mr. Guglielmi said. He added that Ms. Harris was at the Naval Observatory in Washington, where the vice president lives, during the incident and that “there was no impact on her departure from Joint Base Andrews.”

Secret Service officials did not provide any further information on the incident, saying only that it was a “medical matter.”

Hamed Aleaziz covers the Department of Homeland Security and immigration policy. More about Hamed Aleaziz

Jazmine Ulloa is a national politics reporter for The Times, covering the 2024 presidential campaign. She is based in Washington. More about Jazmine Ulloa

Secret Service removes agent from Kamala Harris' detail after 'distressing' behavior

WASHINGTON — A Secret Service special agent was removed from Vice President Kamala Harris' detail after having exhibited "distressing" behavior this week, a spokesperson confirmed Thursday.

The agent, whose identity has not been disclosed, had been involved with the Harris' departure from Joint Base Andrews, Maryland, on Monday morning, when Harris was headed to Wisconsin.

The agent "began displaying behavior their colleagues found distressing," Anthony Guglielmi, chief of communications for the Secret Service, said in a statement Thursday. "The agent was removed from their assignment while medical personnel were summoned."

Harris was not present when the incident took place. She was at the Naval Observatory, the vice president's residence, and Guglielmi said her departure was not affected.

“The U.S. Secret Service takes the safety and health of our employees very seriously,” Guglielmi said. “As this was a medical matter, we will not disclose any further details.”

Additional information about the incident, which was first reported by the Washington Examiner , was not released. The vice president's office did not comment Thursday.

Megan Lebowitz is a politics reporter for NBC News.

A newsletter briefing on the health-care policy debate in Washington.

‘The most momentous time in global health security since 1948’

Good morning, and happy Monday! Today’s newsletter top is drawn from reporting by Frances Stead Sellers , who set the standard for The Post’s Health & Science team coverage during the coronavirus pandemic. She's now an associate editor. Not a subscriber? Sign up here .

Today’s edition: Vice President Harris is hitting the road for another campaign event focused on reproductive rights. The Biden administration is expected to finalize new privacy rules for reproductive health care this week. But first …

Skepticism impedes a global pandemic agreement 

As the world grappled with the emergence of the highly transmissible omicron variant in late 2021, representatives from nearly 200 nations convened in Geneva with a shared goal: to preempt a future global outbreak by forging the inaugural global pandemic accord.

With a deadline looming in May, experts say the stakes of failing to reach an agreement are immeasurable . They warn that an unknown pathogen could wield even more catastrophic consequences than the coronavirus, which has claimed around 7 million lives and inflicted trillions of dollars in economic damages.

Despite intensified negotiations and the recent delivery of a fresh draft document, securing a legally binding pact by next month remains uncertain . The primary hurdle revolves around access to critical information about new threats that may emerge — as well as the vaccines and treatments that could contain them. 

“It’s the most momentous time in global health security since 1948,” when the World Health Organization was established, said Lawrence O. Gostin , director of the WHO Collaborating Center on Public Health Law and Human Rights at Georgetown University .

Negotiation dynamics

Much of the impasse centers on pathogen access and benefit sharing. High-income countries are pressing for guarantees that samples and genetic data about any new pathogen will be quickly shared to allow for the development of tests, vaccines and treatments. Meanwhile, developing nations seek guarantees of benefits, such as equal access to vaccines and collaboration with local scientists.

The United States has signaled its support for a binding agreement, including leveraging its purchasing power to enhance global access to medicines. But it, like many European Union countries, faces skepticism because it is seat of the powerful pharmaceutical industry. 

External influences

The venture is also being roiled by misinformation on social media. That includes hostility toward the WHO and assertions that any international agreement would threaten national sovereignty — claims that WHO Director General Tedros Adhanom Ghebreyesus has condemned as “utterly, completely, categorically false.” 

In early April, Tedros clarified that the final agreement would not grant the WHO authority to enforce lockdowns or mask mandates within individual countries.

Future prospects

In mid-April, the policy nonprofit Health Policy Watch published a new bare-bones draft agreement that is being sent to member states. It maintains support for equity, while leaving key details to be hashed out during the next two years, by which time the leadership of many instrumental countries, including the United States, may have changed. Meetings are set to resume April 29.

You can read Frances’s full report here . 

On tap today: Vice President Harris will travel to La Crosse, Wis., for a campaign event where she is expected to highlight the stakes of the November elections for abortion rights.  

This marks Harris’s third visit to Wisconsin this year and follows a recent three-day tour of the battleground state by two women who say they were denied access to medically necessary care because of their state’s abortion restrictions, according to the Biden-Harris reelection campaign. 

From our reporters' notebooks

Hhs set to finalize new federal health privacy protections.

Our colleague Dan Diamond sends us this dispatch:

Coming this week: new HIPAA rules on reproductive health care. The Biden administration is set to finalize a proposal to shield patients and providers’ medical records from Republican prosecutors, according to a Department of Health and Human Services email that an official sent to reporters last week. Under current rules, there’s a carveout in the Health Insurance Portability and Accountability Act that allows organizations to disclose private medical information to law enforcement in certain cases, such as when there's a criminal investigation.

Patients and health workers have said they’re worried that reproductive health procedures will become a target, especially because some Republican attorneys general have threatened to crack down on women who cross state lines to legally terminate a pregnancy or insisted that abortions should be a matter of a public record. (HIPAA has also been the source of ample confusion in the nearly 30 years since it passed, with some health workers and patients regularly mistaken on what the law covers — or even how it's spelled.)

Meanwhile, zooming out … Several other hotly anticipated final rules have recently passed through the White House Office of Management and Budget , meaning they could be dropped at any time. That includes the Biden administration’s minimum staffing mandate for nursing homes and guidelines that seek to restore protections for LGBTQ Americans and other groups seeking health-care services that were struck down under former president Donald Trump . 

In the courts

Scotus confronts a public health challenge: homeless encampments.

On tap today: The Supreme Court will consider whether unhoused people can be fined or hit with criminal charges for camping and sleeping in public places when shelter beds are unavailable. 

Competing public health concerns are at the heart of the case. Democratic leaders in cities on the West Coast argue that a lower-court ruling declaring the practice unconstitutional has made it more difficult to address safety and public health risks linked to the encampments, including widespread chronic disease, drug abuse and mental illness. 

Yet, a growing body of evidence suggests sweeps can worsen the health of people in encampments while causing turmoil in their lives and for the people trying to care for them — potentially costing taxpayer-funded Medicaid programs even more money, as Angela Hart of KFF Health News detailed previously in The Health 202 . 

The case is the City of Grants Pass. Oregon v. Gloria Johnson. et al.

Reproductive wars

Newsom proposes law to help arizonans get abortions in california.

California Gov. Gavin Newsom (D) will introduce legislation that aims to make it easier for Arizonans to get abortions in his state, in a move that comes shortly after the Arizona Supreme Court ruled that a near-total abortion ban from 1864 can take effect in the coming weeks, The Post’s Mariana Alfaro reports. 

Newsom announced the proposal yesterday during an appearance on MSNBC ’s “Inside with Jen Psaki,” saying it was time for those who support access to abortion to respond to Republican-led bans on the procedure with assertiveness. The emergency legislation would expedite the licenses of Arizona abortion providers to let them treat their patients in California. It will be introduced in the statehouse this week through the legislature’s women’s caucus, Newsom added.

The California governor also unveiled a new ad targeting proposed legislation in Alabama that would make it illegal for people to help minors get abortion care without informing a parent or legal guardian. Newsom’s political action committee, Campaign for Democracy , is paying for the ad as part of its multistate campaign on abortion rights. 

Meanwhile, in Idaho …

Abortion rights advocates are exploring options for a possible 2026 ballot initiative that would restore and protect access to reproductive care in the state, the Idaho Capital Sun ’s Kelcie Moseley-Morris reports. 

Key context: The effort follows a second legislative session in which Idaho lawmakers opted not to clarify or amend a near-total abortion ban that penalizes providers with prison time. “In the absence of a remedy, we are moving full steam ahead,” said Melanie Folwell , a spokeswoman for the group Idahoans United for Women and Families . 

Yes, but: The citizen ballot initiative process can’t amend the state’s constitution; only the Idaho legislature has that authority. Instead, the effort would come in the form of proposed legislation for voters to approve. The specific details of the proposal have yet to be determined, with Folwell saying it might be difficult to untangle the state’s overlapping abortion laws with a single piece of legislation.

On the Hill

Trio of democratic senators take on childhood obesity, diabetes.

Sens. Bernie Sanders (I-Vt.), Cory Booker (D-N.J.) and Peter Welch (D-Vt.) introduced legislation on Friday to combat the United States’ childhood obesity and diabetes epidemics by going after ultra-processed food companies, our colleague Lauren Weber writes. 

Their bill calls for a ban on junk-food advertising targeted to children in the United States, and new health-and-nutrient warning labeling from the Food and Drug Administration . It would also order a National Institutes of Health investigation into “the dangers posed by ultra-processed foods,” according to a news release from the senators.

“We cannot continue to allow large corporations in the food and beverage industry to put their profits over the health and well-being of our children,” Sanders said in a news release. He noted that Congress previously took on the tobacco industry, adding it was time to do the same for big food companies.

Last year, The Post revealed the lack of advertising regulation and lax childhood food standards in the United States as part of its Dying Early series examining America's chronic disease epidemic. 

Sen. Bernie Sanders (I-Vt.): 

For too long the food and beverage industry has put profits over the health of our children. Today 1 in 5 kids in the U.S. are living with obesity and the number of kids with type 2 diabetes is estimated to skyrocket by nearly 700% in the next 40 years. Congress must act. pic.twitter.com/Nvc7bx1KFk — Bernie Sanders (@SenSanders) April 19, 2024

Health reads

Emergency rooms refused to treat pregnant women, leaving one to miscarry in a lobby restroom (By Amanda Seitz | The Associated Press)

Some older women need extra breast scans. Why won’t Medicare pay? (By Roni Caryn Rabin | The New York Times)

Medicare ignored expert advice to cut tests for transplant patients: Report (By Cheyanne M. Daniels | The Hill)

Thanks for reading! See you tomorrow.

Should Americans be worried about the border? The first Texas border czar says yes.

First Texas border czar Mike Banks talks immigration reform, border security

Mike Banks likes to joke that he spent one day in retirement after serving more than two decades in the U.S. Border Patrol. But it only took one phone call from  Texas Gov. Greg Abbott  to get him back to border enforcement – this time, for the state.

Abbott's Texas is testing the limits of  what states can do  to control immigration. As the pioneering  first "border czar" of Texas , Banks is advising the governor's evolving – and controversial – border security strategy even as the Biden administration fights Texas' tactics  in federal court .

The election-season stakes were on display earlier this year when a bipartisan border security bill – endorsed by the White House – failed despite broad voter support.  Republicans backed off the bill  after Donald Trump publicly blasted it.

In a mobile command vehicle parked near the Rio Grande river in Eagle Pass, Banks spoke to USA TODAY about his views on cartel threats, concertina wire and comprehensive immigration reform. (This interview has been edited for brevity and clarity.)

Polls have shown that voters across the country, even outside of border states, are ranking immigration border security as a top issue. Should they be worried?

Every state has really become a border state. Never in my career have I seen such large numbers entering the country illegally. And so I think we should be worried about it.

First and foremost, we need to separate immigration from border security.

What you have right now is the cartels weaponizing immigration against the forces on the border, whether it be Border Patrol, the state of Texas, any other law enforcement. They're weaponizing the migrants, holding them back, pushing them across at certain times, in order to overwhelm the system.

That now leaves miles and miles of border wide open where they can push through the got-aways, they can push through the hard narcotics, they can push through the high-value targets. So I think it's way beyond time for America to be concerned about our border being as wide open as it is.

What do you mean when you say we need to 'separate immigration from border security'?

It's far past time for the U.S government to come up with comprehensive immigration reform. Immigration reform isn't 'Let's create a crisis at the border, and then you'll just give me whatever I want.'

The left and the right need to sit down and come up with a viable immigration system that works for today's migrants, for what we need in this country for workforce, for what we need for population (growth), for what we need in getting experts into this country.

What we can't do is have open borders in between the ports of entry where anyone can come through. And the federal government is inviting this to continue happening.

Texas is building its own border infrastructure from concertina wire to a 'forward operating base' here in Eagle Pass. What's next? What does the Texas border look like five years from now?

You need the right combination of technology, infrastructure, personnel and consequences. So that's what we're trying to put together as a total package in the state of Texas. We are building state border wall at the exact same specifications that the previous (Trump) administration was building border wall. Does border wall stop everything? No. It's like a lock on anything else. It keeps honest people honest. And it works as a force multiplier. You can control the area with less manpower.

Additionally, I would say that over the next five years... we're going to continue building tactical infrastructure. We're going to continue building border wall. Right now, our current pace is about one mile a week. We're going to put up things like the the border buoy barriers, with the understanding that you don't need a wall from sea to shining sea.

If you look at the numbers... you will see that while Texas owns almost 64% of the entire land mass with Mexico, 1,254 miles, we now account for less than 30% of all the cross-border traffic. (Editor's note:  U.S. Customs and Border Protection data  show 44% of illegal crossings have occurred in Texas in fiscal 2024 through March.) To me, what that shows is that deterrence does work, that you can deter people from crossing illegally. Right now they're going to the path of least resistance. And the path of least resistance for illegal immigration is California, Arizona, New Mexico.

Do you have any contact with counterparts in Mexico?

We do. We don't communicate at the same level as I did when I was in the Border Patrol, at the federal level. But on the state level, we communicate. There's communications from governor to governor. There's communications from the different state police agencies with our police agencies, with Guardia Nacional and our National Guard. We communicate with Mexico daily, if not multiple times a day.

Is Mexico doing enough to slow the flow of migrants?

Many (Mexican) states along the border... are feeling much the same way Texas is, where the states are being overrun with illegal immigration and being left to fend for themselves on the south side, without the proper assistance from the federal government. So they're stepping up on the south side in these Mexican states and doing what they can to deter illegal immigration, as well.

Is the federal government of Mexico doing enough? No. Is the federal government United States doing enough? No.

Do you envision a state-level Border Patrol? Or will the Texas National Guard be on permanent assignment?

I think the border states definitely have to be involved in border security. I can tell you from the 23 years I was in the Border Patrol, we worked with state military, we worked with state law enforcement (and) the state of Texas. As far as a Texas Border Patrol, I think that's for the Legislature and the people of Texas to decide.

We're going to do everything we can to protect Texas and the rest of America. If you go out in (Shelby Park), you will see soldiers from the state of Florida. You will see them from Iowa. You will see them from Indiana. You will see them from North Dakota. Half of the (Republican-led) states in the United States are sending some type of support to the state of Texas, whether it be in the form of law enforcement or National Guard, to help us hold that line. And they're footing their own bill because they understand that what is happening here is going to affect them, whether it be the narcotics, the fentanyl, the opioids, or whether it be the high-value targets.

You know, we're not going to back down. We believe everything we're doing is lawful and within our constitutional rights.

Lauren Villagran can be reached at [email protected] or on X @laurenvillagran.

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Jill Biden says an agreement to let federal employee military spouses work from overseas is overdue

First lady Jill Biden reacts as Deputy Secretary of Defense Kathleen Hicks and Deputy Secretary of State Richard Verma sign a permanent memorandum of agreement between Defense Department and State Department to strengthen the Domestic Employees Teleworking Overseas (DETO) program for military spouses in the East Room at the White House, Wednesday, Apr. 17, 2024, in Washington. (AP Photo/Yuri Gripas)

First lady Jill Biden speaks at an event on federal employment opportunities for military spouses in the East Room at the White House, Wednesday, Apr. 17, 2024, in Washington. (AP Photo/Yuri Gripas)

First lady Jill Biden speaks at an event on Federal employment opportunities for military spouses in the East Room at the White House, Wednesday, Apr. 17, 2024, in Washington. (AP Photo/Yuri Gripas)

First lady Jill Biden holds an event on federal employment opportunities for military spouses in the East Room at the White House, Wednesday, Apr. 17, 2024, in Washington. (AP Photo/Yuri Gripas)

First lady Jill Biden arrives at an event on federal employment opportunities for military spouses in the East Room at the White House, Wednesday, Apr. 17, 2024, in Washington. (AP Photo/Yuri Gripas)

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WASHINGTON (AP) — Jill Biden said Wednesday that allowing federal employees who are military spouses to work from overseas is a “national security imperative” that is long overdue.

The first lady spoke at a White House ceremony she hosted with Deputy Defense Secretary Kathleen Hicks and Deputy Secretary of State Richard Verma, who signed a permanent memorandum of agreement between their departments to ease approvals of remote work under the Domestic Employees Teleworking Overseas program for these employees.

The agreement was among steps to help military families that President Joe Biden outlined in an executive order he signed in June at Fort Liberty in North Carolina. It also is an outgrowth of the first lady’s work with Joining Forces , her White House initiative to support military and veteran families.

Jill Biden said she shared stories the spouses told her with her husband and he took action.

“A critical part of the executive order is allowing military spouses who work for the federal government to take jobs with them” when their spouse is deployed overseas, Jill Biden said. “With today’s agreement, we’re making that a reality. It’s common sense, it’s simple and it’s long overdue.”

Hicks and Verma signed the agreement in front of an overwhelmingly female audience seated in the East Room. Hicks handed her pen to the first lady.

Jill Biden said military spouses also serve the United States even though they don’t wear a uniform and that the government has a responsibility to serve them, too.

“This isn’t just a moral obligation,” she said. “It’s a national security imperative.”

The first lady said the principle of an all-volunteer military, which is the case in the U.S., is put “at risk when we force our service members to choose between their love of country and the families who serve alongside them. We must give them the support they need to choose both.”

Military spouses face a 21% unemployment rate that has not significantly changed over the past decade, according to information from the White House. More than 16,000 military, veteran and surviving spouses work across federal departments and agencies.

Jill Biden cracked a joke at the beginning of her formal remarks, saying she was really excited because “like so many of you, I am a working spouse of a government employee.”

Biden teaches English and writing two days a week at Northern Virginia Community College.