Notice Of Assignment Of Lease

Many workers sign a covenant not to compete as part of the paperwork required for employment.It may be a separate document similar to a non-disclosure agreement, or buried within a number of other clauses in a contract.Many companies spend years developing a local base of customers or clients.

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The assignor normally remains liable unless there is an agreement to the contrary by the other party to the contract. In a sublease, the original tenant is not released from the obligations of the original lease. She sent the proper notice and demanded payment under the agreement.

Note that an assignment of an interest is the transfer of from the assignor to the assignee. Whether a contract is assignable is a matter of contractual intent and one must look to the language used by the parties to discern that intent. On the other hand, an assignee’s right against the obligor is subject to “all of the limitations of the assignor’s right, all defenses thereto, and all set-offs and counterclaims which would have been available against the assignor had there been no assignment, provided that these defenses and set-offs are based on facts existing at the time of the assignment.” See , case, above.

The assignment operates to transfer to the assignee all of the rights, title, or interest of the assignor in the thing assigned. In the absence of an express provision to the contrary, the rights and duties under a bilateral executory contract that does not involve personal skill, trust, or confidence may be assigned without the consent of the other party. The power of the contract to restrict assignment is broad.

For example, it often takes years before a research chemist or a design engineer develops a workable knowledge of a company’s product line, including trade secrets and highly sensitive information.

Once an employee gains this knowledge and experience, however, all sorts of things can happen.

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