Assignment Vs Sale Explained

Summary

In Maryland, assignment of obligations involves transferring rights or benefits while retaining some liability unless waived. A sale of obligations, however, involves a complete transfer of both rights and liabilities, with the seller ceasing to have any interest or liability. If an agreement specifies assignment only, a sale may not be permissible. During arbitration, the terms of the agreement and arbitration rules are crucial. To draft a response to a companys defense, address specific points based on the agreement and Maryland laws. Consider consulting a local attorney for detailed guidance.

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Maryland
Hello! I can help explain the difference between the assignment and sale of obligations.
- **Assignment of Obligations**:
- Transfer of rights or benefits from one party to another.
- The assignor retains some liability unless explicitly waived.
- **Sale of Obligations**:
- Complete transfer of both rights and liabilities.
- The seller ceases to have any interest or liability in the obligation.
If you have more specific questions or need further details, please let me know!
So if a lawyer states they sold account to another party but the agreement explicitly states they may assign it’s obligations to a third party
In Maryland, the specific language in the agreement is crucial. If the agreement only allows for the assignment of obligations and not a complete sale, the lawyer may not have the right to sell the account outright. You might need to review the contract's terms or consult a local attorney for further assistance.
Do you need help locating a local attorney or court for further assistance?
What about a company does this and we are in arbitration?
If a company assigns or sells obligations during arbitration, the specific terms of the agreement and the nature of the arbitration rules will govern the process.
- **Assignment**: Company may transfer obligations but retains some liability unless waived.
- **Sale**: Complete transfer of rights and liabilities.
Ensure you review the arbitration agreement and consult with an attorney familiar with Maryland arbitration laws for specifics. Do you need help finding an attorney in Maryland?
How would I draft this in a response to a companies answer and defense
To draft a response to the company's answer and defense, you would need to address the specific points they have made and ensure that your argument is clear and based on the terms of the agreement and relevant Maryland laws. Here’s a concise template you can follow:
---
**Response to Company's Answer and Defense**
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Date]
[Company's Name]
[Company's Address]
[City, State, ZIP Code]
Dear [Company's Representative],
In response to your recent answer and defense, I would like to address the following points:
*. **Assignment vs. Sale of Obligations**:
- The agreement explicitly states that obligations may only be assigned, not sold.
- As per Maryland law, assignment involves transferring obligations while retaining some liability unless explicitly waived.
*. **Validity of the Transfer**:
- The language in the agreement does not support the complete sale of the account.
- The purported sale exceeds the scope of the permissible actions outlined in the agreement.
*. **Arbitration Considerations**:
- During our ongoing arbitration, it is crucial to adhere to the specific terms of the agreement.
- The nature of the arbitration rules should govern