Assignment of Contract in Florida
An assignment of contract transfers a party's contractual rights and obligations to a third party. In Florida, contract assignments are a common mechanism for transferring real estate purchase agreements, commercial contracts, and business obligations to new parties.
Requirements and Restrictions
A valid Florida contract assignment requires a clear written instrument transferring the rights, delivery to the assignee, and notice to the obligor. Anti-assignment clauses are enforceable but construed narrowly. Florida courts distinguish between restrictions on assigning rights (receiving benefits) and restrictions on delegating duties (performing obligations), potentially enforcing one while invalidating the other.
Continued Liability
A critical principle in Florida contract law is that assignment does not release the assignor from liability. The original contracting party remains responsible for performance unless the other party consents to a novation. This means an assignor who assigns a contract remains on the hook as a guarantor of the assignee's performance.
Related Terms
Barnes Walker Business Law
Barnes Walker structures contract assignments for Florida businesses and investors. Contact us for transactional guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC