preferential assignment

preferential assignment
An assignment of property for the benefit of creditors, made by an insolvent debtor, in which it is directed that a preference (right to be paid first in full) shall be given to a creditor or creditors therein named over other creditors. Such assignments are controlled by statute in most states, normally requiring recording, filing of schedules of assets and liabilities, giving notice to creditors, etc. Most all state statutes prohibit preferential assignments as being fraudulent conveyances.

Black's law dictionary. . 1990.

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  • preferential assignment — An assignment for the benefit of creditors wherein the assignor gives a preference to certain of his creditors. 6 Am J2d Assign for Crs § 69. Broadly, any assignment which prefers one creditor over another. See voidable preference …   Ballentine's law dictionary

  • assignment — A transfer or setting over of property, or of some right or interest therein, from one person to another, and unless in some way qualified, the transfer of one s whole interest in an estate, chattel, or other thing. 6 Am J2d Assign § 1. The word… …   Ballentine's law dictionary

  • assignment for benefit of creditors — A general assignment for benefit of creditors is transfer of all or substantially all of debtor s property to another person in trust to collect any money owing to debtor, to sell property, to distribute the proceeds to his creditors and to… …   Black's law dictionary

  • assignment with preferences — An assignment for the benefit of creditors, with directions to the assignee to prefer a specified creditor or class of creditors, by paying their claims in full before the others receive any dividend, or in some other manner. More usually termed… …   Black's law dictionary

  • assignment for benefit of creditors — A general assignment for benefit of creditors is transfer of all or substantially all of debtor s property to another person in trust to collect any money owing to debtor, to sell property, to distribute the proceeds to his creditors and to… …   Black's law dictionary

  • assignment with preferences — An assignment for the benefit of creditors, with directions to the assignee to prefer a specified creditor or class of creditors, by paying their claims in full before the others receive any dividend, or in some other manner. More usually termed… …   Black's law dictionary

  • preferential transfer — See preference preferential assignment …   Black's law dictionary

  • Preferential bidding system — Preferential bidding is a method of solving transport workforce schedules consisting of specific flights and certain qualified crewmembers, or pairings , while allowing those crewmembers to request periodic work schedules using weighted… …   Wikipedia

  • constructive assignment — An assignment for the benefit of creditors arising by operation of law, as where a preferential or fraudulent transfer is converted by statute into an assignment for the benefit of creditors. 6 Am J2d Assign for Crs § 47 …   Ballentine's law dictionary

  • involuntary assignment — An assignment by operation of law, for example, the passing of a decedent s choses in action to the executor or administrator of his estate. 6 Am J2d Assign § 2. The transfer of the choses in action of a bankrupt to the trustee in bankruptcy. An… …   Ballentine's law dictionary

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