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Home Q&A Forum Can I assign rights in a business purchase agreement?
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Acquisitions

Business Purchase Agreement

California

Asked on Oct 19, 2023

Can I assign rights in a business purchase agreement?

I am in the process of purchasing a business and I am considering assigning some of my rights under the purchase agreement to a third party. I would like to know if this is allowed under the law and what the potential risks or consequences might be. I am also interested in understanding the steps that need to be taken to ensure that all parties are adequately protected under the agreement.

1 Attorney answer

Answer

Acquisitions

California

Answered 375 days ago

David B.

ContractsCounsel verified

Business Lawyer
Licensed in California
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5.0 (34)
Member Since:
September 5, 2023

The general rule is that contracts may be freely assigned to third parties. However, most agreements have clauses that limit or prohibit assignment unless the non-assigning party agrees to the assignment.

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