Assignment

The thing you write for History class to explain why France doesn't have kings anymore. In the financial world, though, assignment can mean a notice stating that an option has been exercised. It can also mean the transfer of rights or property...like you assign this house or land or jet to the new buyer. No kings involved. (Well, kings can be involved, if you happen to be assigning property to a king. But we've found that comes up very rarely in the normal course of business these days.)