General Assignment
A general assignment or assignment is a concept in bankruptcy law that has a similar meaning, due to common law ancestry, in different jurisdictions, but wide dispersion in practical application. The "assignment for the benefit of creditors", also known as an ABC or AFBC is an alternative to bankruptcy, which is a "general assignment"/"assignment" concept.
Read more about General Assignment: The United States, Other Common Law Countries
Famous quotes containing the word general:
“A writer who writes, “I am alone” ... can be considered rather comical. It is comical for a man to recognize his solitude by addressing a reader and by using methods that prevent the individual from being alone. The word alone is just as general as the word bread. To pronounce it is to summon to oneself the presence of everything the word excludes.”
—Maurice Blanchot (b. 1907)