What is the term for a means whereby one party conveys rights to another person who is not a party to the original contract?

The term that refers to the means by which one party conveys rights to another person who is not a party to the original contract is known as assignment. In this context, an assignment occurs when one party (the assignor) transfers their rights and benefits under a contract to another party (the assignee). This transfer allows the assignee to receive the benefits originally intended for the assignor without altering the original contractual agreement itself.

This concept is significant in contract law because it ensures that rights can be transferred, providing flexibility in the management of obligations and benefits within contractual relationships. Assignments are often used in various contexts, such as in real estate transactions or financial agreements, where the original party may choose to delegate their rights for various strategic reasons.

The other terms, while related to contractual relationships, do not accurately capture the specific action of transferring rights without the involvement of the original contract's counterparty. A contract, for example, refers to the original agreement itself, while delegation pertains to the transfer of duties or obligations rather than rights. Transfer is a more general term and lacks the precise legal definition associated with the rights being conferred through assignment.