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In most legal systems the benefit of a contract can be transferred by assignment unless the contract itself expressly forbids this.

Normally it is not possible to transfer the obligationsunder a contract. However, if all the parties agree (ie. transferor, transferee and other party to the contract) then the parties can "novate" the agreement, so that effectively the old contract is released and a new contract is created between the transferee and the other party.

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15y ago

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