rickgrimes69 wrote:Can anyone explain the practical difference between an Assignment, a Delegation, and a Novation? I understand the legal effects of each, but I can't seem to distinguish them on fact patterns. NY if it matters.
Assignment: One guy unilaterally gives his rights in the contract to someone else. I agree to paint your house, but I assign my rights in the contract to my cousin so you'll be paying him instead.
Delegation: One guy unilaterally asks someone else to do his job as required in the contract. So I agree to paint your house and I hire some people to help, I'm delegating some or all of my duties to them but I remain on the hook.
Novation: Both parties agree someone else will take over for one of the parties. So I agree to paint your house then we find out a better painter is available so we mutually agree to swap in the better guy for me. I'm now off the hook.