Understanding Consent to Assignment of Contract

I know that consent to assignment of contract is a hot legal topic, which is important, especially when you are trading assets, such as vehicles. However, how does this specific aspect of contract law impact you and the services we offer our customers, here at Kamal Auto TATA? Let’s take a look at what consent of assignment of contract really means to potential or existing Tata vehicle customers, by delving into ten facts and tips they should know:

1. What is ‘consent to assignment of contract’? It basically just means an agreement or arrangement between two parties to a contract -for example for the sale of a vehicle- that if one party wanted to assign their rights under the contract to a third party or sub let it to a third party, the other party would have to consent.
2. Why is consent to assignment of contract? Consent to assignment of contract weeks the value of the asset intended for trade in order that the banks can approve finance less risk to them.
3. Why do I need consent to assignment of contract? It is necessary so that the buyer does not assign their rights under the contract to a third party who will sub let the asset or sell to someone else.
4. Why do I need to ask Kamal Auto TATA to consent to the assignment of the contract when I am buying a vehicle?
5. What happens if I go ahead and buy the vehicle without obtaining consent of Kamal Auto TATA?
6. What happens if I go ahead and buy the vehicle without obtaining consent of Kamal Auto TATA?
7. What are the consequences for Kamal Auto TATA if consumers buy a car they know is subject to an assignment of the contract?
8. Can customers insist Kamal Auto TATA take back a vehicle sold illegally?
9. What are the obligations of Kamal Auto TATA when assigning a contract for the sale of a new/used vehicle?
10. What kind of legal protection do consumers have in case the contract is assigned illegally?