Contracts
What does 'assignment' of a South Carolina real estate contract mean?
AThe transfer of the contract rights to a third party✓ Correct
BThe cancellation of the contract by mutual agreement
CThe extension of the closing deadline
DThe renegotiation of the purchase price
Explanation
Assignment is the transfer of one party's rights under a contract to a third party. Real estate purchase contracts may or may not be assignable depending on the contract language.
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