Contracts
Under Hawaii law, an 'assignment' of a real estate contract means:
AThe property is transferred by deed
BOne party transfers their rights and obligations under the contract to a third party✓ Correct
CThe contract is extended for an additional period
DThe contract terms are renegotiated
Explanation
An assignment transfers a party's contractual rights and duties to a third party (assignee). Unless prohibited by the contract, contracts are generally assignable. The original obligor may remain secondarily liable.
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