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What does a non-assignment clause mean?

The anti-assignment clause states that neither party can transfer or assign the agreement without the consent of the other party. On a basic level, that makes sense after all, if you sign a contract with a specific party, you dont expect to be entering into an agreement with a third party you didnt intend to be.

What happens if there is no assignment clause in a contract?

What is a No Assignment Clause? That no assignment clause says that neither party can transfer or assign this agreement without the written consent of the other party.

What does it mean when a contract is non-asdocHub?

Generally speaking, contracts can be freely assigned to third parties. Non-assignment provisions are designed so that contracts cannot be as freely assigned to third parties; or at least, not without first obtaining the contracting counterpartys consent.

What does assignment provision mean?

The assignment provision establishes the fact that the buyer (who is the assignor) can assign the property to an assignee. Upon assignment, the assignee becomes the new buyer. The AC conveys to the assignee both the ACs property rights and the ACs contract obligations.

What does it mean when a contract is not asdocHub?

Non-asdocHub agreement means any contract that is assigned to Buyer under this Agreement, but in respect of which an assignment or attempted assignment would constitute a violation of applicable law or in violation of applicable law.

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