The assignment of a right or obligation is a common contractual event under the law and the right to assign (or prohibition against assignments) is found in the majority of agreements, leases and business structural documents created in the United States.

Can liabilities be assigned?

'Assignment' means transfer of contractual rights or liability by a party to the contract to some other person who is not a party. It would not be wrong to say that as a matter of established principle, obligations are not assignable and once assigned it amounts to novation. For example, if A owes B INR.

Can rights and obligations be assigned?

There are 2 methods of transferring a contract in Singapore. If you want to transfer just the rights under the contract, you can perform an assignment of the contract. On the other hand, if you want to transfer both the rights and obligations under the contract, you can perform a novation of the contract.