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:
“I suggested to them also the great desirability of a general knowledge on the Island of the English language. They are under an English speaking government and are a part of the territory of an English speaking nation.... While I appreciated the desirability of maintaining their grasp on the Spanish language, the beauty of that language and the richness of its literature, that as a practical matter for them it was quite necessary to have a good comprehension of English.”
—Calvin Coolidge (1872–1933)