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Assignment of contract is the transfer by a party to a contract of his right and interest therein, subject to the performance of terms and conditions to which the other party to the contract is entitled.
The following is an example of a case law referring to assignment of contract:
“Under the common law of assignment of contracts, the assignor and assignee can divide among themselves responsibility for performing the duties to the obligee.” [Centennial & Allegheny Univ. Hospitals-East Tenet Healthsystem Phila., Inc. v. Nat'l Union of Hosp. & Health Care Emples., AFSCME, Dist. 1199C (In re Allegheny Health, Educ. and Research Found.), 383 F.3d 169, 174 (3d Cir. Pa. 2004)].