Which of the following statements about assignors and assignees is true?

When a contract is assigned, the assignor transfers their rights and obligations under that contract to the assignee. However, even after an assignment occurs, the assignor does not entirely absolve themselves of liability for the performance of the obligation. If the assignee fails to fulfill the contractual duties, creditors may still seek enforcement against the assignor. This means that the assignor remains secondarily liable for the obligations, ensuring that if the assignee defaults, the original party can still be held accountable.

In contrast, the notion that assignors are always released from liability is not correct, as there are circumstances in which they remain liable. Additionally, assignees do not have the right to arbitrarily reject the duties of the contract unless there is a valid reason for doing so, and while assignees take on the responsibilities that come with the assigned rights, they do not assume all risks indiscriminately. This keeps the assignor in a position of potential liability if issues arise with the contract's execution.