What is the best definition of an assignment of rights in contract law?

The best definition of an assignment of rights in contract law is the transaction whereby an obligee transfers her rights to a third party. In contract law, "assignment" refers specifically to the transfer of rights or benefits under a contract from one party (the assignor) to another (the assignee). This process allows the original obligee to transfer their rights to receive performance or benefits directly to another party, who then has the ability to enforce them.

This concept is essential in various legal contexts, especially in business transactions where rights to receive payments, distributions, or other contractual benefits may need to be transferred or sold. The clarity that rights can be assigned helps with contract flexibility and allows for the fluid management of contractual relationships.

The other options do not accurately describe an assignment of rights. Delegation refers to the transfer of duties rather than rights, mutual consent speaks to the formation of contracts rather than the specifics of assignment, and legal requirements about contract modifications do not pertain directly to the assignment of rights itself.