Contracts
Which of the following is true about an 'assignment' of a real estate purchase contract?
AIt always requires the seller's written consent
BIt transfers the assignor's rights under the contract to the assignee✓ Correct
CIt releases the original buyer from all obligations
DIt automatically voids the original contract
Explanation
Assignment transfers the assignor's contractual rights to an assignee. Unless the contract prohibits assignment, the buyer may assign their purchase rights. However, unless there is a novation, the original buyer typically remains liable if the assignee defaults.
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