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Assignment definition legal

An assignment [1] is a legal term used in the context of the law of contract and of property. In both instances, assignment is the process whereby a person, the assignor , transfers rights or benefits to another, the assignee. The right or benefit being assigned may be a gift such as a waiver or it may be paid for with a contractual consideration such as money. The rights may be vested or contingent, [3] and may include an equitable interest. An assignor may assign rights, such as a mortgage note issued by a third party borrower, and this would require the latter to make repayments to the assignee.

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In American English, an assignment is also a piece of work given to students to do at home. Work given to schoolchildren to do at home is also called homework. Be Careful! Homework is an uncountable noun. You do not talk about 'homeworks' or 'a homework'.

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A transfer of rights in real property or Personal Property to another that gives the recipient—the transferee—the rights that the owner or holder of the property—the transferor—had prior to the transfer. An assignment of wages is the transfer of the right to collect wages from the wage earner to his or her creditor. Statutes regulate the extent to which an assignment may be made.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'assignment. Send us feedback. See more words from the same century. Accessed 29 Apr. More Definitions for assignment.

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