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:
“As a general rule, do not kick the shins of the opposite gentleman under the table, if personally unaquainted with him; your pleasantry is liable to be misunderstood—a circumstance at all times unpleasant.”
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
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