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What is an assignor?

Bar Exam Prep Contracts Third Parties What is an assignor?
🤔 Contracts • Third Parties K#180

Legal Definition

The party to the contract who later transfers their rights to another.

Plain English Explanation

Imagine that Bob has an apple tree. Bob sells Sam the right to pick 1 basket of apples from his tree each month for $20 per month. Sam doesn't like apples, but Amy does. Sam sells Amy his rights for $25 per month.

In this example, Sam is the assignor, Amy is the assignee, and Bob is the obligor.

Visual Aids

What is an assignor?
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