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Contract Assignment vs. Novation in Real Estate

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

An ____ transfers legal rights and an ____ receives the rights so transferred.

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1. Which of the following contracts is not generally assignable?

2. Which parties must be involved in a contract assignment?

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About This Quiz & Worksheet

Our subject-matter experts put this quiz together to check your level of understanding of contract assignment and novation. These multiple-choice questions will verify that you understand the terms and concepts related to this subject.

Quiz & Worksheet Goals

The quiz will test you on details such as:

  • The term for who transfers legal rights
  • The receiver of legal rights that are transferred
  • Parties that must be involved in assignment of contract
  • Characteristics of a novation

Skills Practiced

Use this quiz and worksheet to test your skills of:

  • Reading comprehension - ensure that you draw the most important information from the related real estate lesson
  • Information recall - access the knowledge you've gained regarding the number of parties involved in novation
  • Knowledge application - use your knowledge to identify contracts that are not assignable

Additional Learning

Contract Assignment vs. Novation in Real Estate is a lesson that contains more information on this subject. Use it to:

  • Learn more about the definition of a contract
  • See how to transfer the benefits of a contract to another
  • Understand what burdens and obligations remain with the assignor
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