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Definition of 'Assignor'

Definition: A party or entity who transfers the rights of the contract they hold to another party (assignee) is called the assignor.

Description: Assignor transfers the complete rights of ownership and benefits pertaining to the contract to the assignee. For instance, party A gives an absolute assignment to party B of an insurance policy of Rs 5 lakh. Here A becomes the assignor.

Also See: Absolute Assignment, Assignee

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