assignability

Assignability is the capacity to transfer rights or obligations under a contract or other legal instrument from one party (the assignor) to another (the assignee). It enables the transfer of contractual benefits, claims, or property rights and is a common feature of commercial and financial arrangements.

Most contract rights are assignable unless the contract or law forbids it. Anti-assignment clauses may bar transfers, or may require consent of the other party. Personal service contracts, rights requiring personal trust, or rights that involve unique obligations are often non-assignable or non-delegable. Some claims, such as those arising from certain insurance policies or social benefits, may also be restricted by statute.

Process and effects: An assignment is typically effected by an agreement transferring rights; a notice to the obligor is often required, and in some cases the obligor's consent is needed. After an effective assignment, the assignee can sue on the contract and collect payments; the assignor may remain liable on the contract unless the parties novate or release them.

Frameworks: In common law jurisdictions, assignability is governed by contract law and may be supplemented by statutes. The Uniform Commercial Code in the United States generally permits the assignment of monetary claims (accounts, chattel paper) unless restricted by agreement. Non-assignable rights and public policy considerations may override an assignment.

Impact and practice: Clear drafting helps avoid disputes; parties may include express assignment language, notice provisions, and consent requirements. Assignability affects financing, outsourcing, and the transferability of debts and rights.