General Assignment
Legal Definition and Related Resources of General Assignment
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Meaning of General Assignment
In the context of bankruptcy law it is any conveyance by which one intends to make an absolute and unconditional appropriation of all his property to pay his creditors, share and share alike. See Davis v MUler-Link Lumber Co., C.A.5 Tex., 296 F.649. In order to constitute general assignment it is not necessary that any particular form or manner should be observed so long as the person parts with the title and possession of all his property of every kind and nature for the benefit of his creditors to be disposed of in such manner as his trustee or assignee may employ. See Re Lehker Brothers mercantile Co., (D.C.Kan.)216 F.963.
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General Assignment in Historical Law
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General Assignment Legal Definition
The voluntary transfer, by a debtor, of all property to a trustee for the benefit of all of his or her creditors.
Meaning of General Assignment
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See Also
Assignment For The Benefit Of Creditors
Debtor
Creditor