Contracts
An 'assignment' of a Mississippi real estate contract allows the original buyer to:
ACancel the contract without penalty
BTransfer their rights and obligations under the contract to a third party✓ Correct
CChange the purchase price unilaterally
DExtend the closing date indefinitely
Explanation
Assignment transfers the assignor's contractual rights and duties to a third party (assignee). In real estate, whether a purchase contract is assignable depends on the contract language—many residential contracts restrict or prohibit assignment.
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