Multiple choice

The transfer of contractual rights or liabilities by a party to contract to some other person who is not a party is known as

  1. accord of contract

  2. assignment of contract

  3. novation of contract

  4. rescission of contract

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A contract of assignment is one when original parties to contract gives the obligations and benefits of  contract to another party. Whereas where a party assigns only the benefits of contract and retain the obligations, it is called assignment of rights.