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Connecticut Assignment of Contract

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Connecticut Assignment of Contract Powered By Docstoc
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                             This agreement is used by individuals or entities located in Connecticut wishing to assign
                             all their rights and obligations under an existing contract to a new individual or entity. An
                             assignment of a contract is permissible if it is not prohibited under the original contract or if
                             permission is granted by the non-transferring party. This document can be used by a party
                             who wants to transfer their rights and obligations under an existing contract to a new party.
             ®




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                                  ASSIGNMENT OF CONTRACT


THIS ASSIGNMENT OF CONTRACT (the “Agreement”) is made this ____ [Month] ____
[Date], 20____, by and between ___________________ [Instruction: Insert the name of the
Assignor]       hereinafter       “Assignor”,       having       its    principal      office      at,
__________________________________ [Instruction: Insert the Address of the Assignor
Company], and ___________________ [Instruction: Insert the name of the Assignee]
hereinafter “Assignee”, having its principal office at __________________________________
[Instruction: Insert the Address of the Assignee Company], in consideration of the
mutual covenants herein contained and other good and valuable consideration, the
sufficiency of which is hereby acknowledged, witnessed:


WHEREAS, Assignor entered into a Contract dated ________ [Month] __ [Date], 20__, with
_________________________ [Instruction: Insert the name of the Company with whom
Assignor     executed       the    contract],     (hereinafter     “Company”),       identified    as
_______________________ [Instruction: Insert the name of the Contract], hereinafter
“Contract”; a copy of the Contract is attached as Exhibit A.


WHEREAS, Assignor wishes to assign all of its rights and obligations under the Contract to
Assignee and Assignee wishes to accept all of Assignor’s rights and obligations under the
Contract; and


NOW THEREFORE, in consideration of the foregoing premises and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows:


1. Assignor and Assignee hereby agree that the Assignor shall assign all its right, title, and
   interest, and delegate all its obligations, responsibilities and duties, in and to the Contract, to
   Assignee.
2. Assignor hereby [waives –or- assigns and transfers] [Choose one] any and all rights it may
   have against the Company, effective as of the Effective Date set forth in this agreement.
3. The Company recognizes the Assignee as the Assignor’s successor in interest in and to the
   Contract.   The Assignee by this Agreement becomes entitled to all rights (including
   payment), titles, and interests, and assumes all duties, obligations, and liabilities, of the
   Assignor in and to the Contract as if the Assignee were the original party to the Contract.
   Following the effective date of this Agreement, the term ______________ [Instruction:
   Insert the term as 
				
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Description: This agreement is used by individuals or entities located in Connecticut wishing to assign all their rights and obligations under an existing contract to a new individual or entity. An assignment of a contract is permissible if it is not prohibited under the original contract or if permission is granted by the non-transferring party. This document can be used by a party who wants to transfer their rights and obligations under an existing contract to a new party.
This document is also part of a package Essential Connecticut Legal Documents 86 Documents Included