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.
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Famous quotes containing the word general:
“The most general deficiency in our sort of culture and education is gradually dawning on me: no one learns, no one strives towards, no one teaches—enduring loneliness.”
—Friedrich Nietzsche (1844–1900)
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