Contracts
What is 'assignment' of a real estate contract in Delaware?
AThe seller assigns their obligation to sell to another seller
BThe transfer of a party's rights and/or obligations under a contract to a third party✓ Correct
CThe broker's assignment of the listing to another agent
DThe assignment of purchase price adjustments
Explanation
Assignment transfers a party's contractual rights (and sometimes obligations) to a third party (the assignee). In real estate, a buyer may assign their purchase contract to another buyer unless the contract prohibits assignment.
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