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Statutory Assignment
The transfer of rights or benefits from one party to another as regulated and permitted by law.
Assignee
The party to whom rights or duties under a contract are transferred by another party (the assignor).
Notice of Assignment
A formal notification that a contract or property has been legally transferred from one party to another.
Novation
The process of replacing an existing obligation with a new one, thereby extinguishing the original contract and starting anew.
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