Assignment

The transfer of right and liabilities under a contract is technically "assignment of contract". Prima facie, there cannot be an assignment of a contractual liability, and where the promise consents to accept performance from a third party, there is a substitution of a new contract and the old contract disappear and all rights and liabilities under it are extinguished. This is technically called "N ovation".
There is no section in the Contract Act which deals generally with the assign ability of contracts. A contract cannot effect any one but the parties may, under certain circumstances drop out and bring others in their place.