- 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 a "preferential assignment." Such assignments formerly constituted an "act of bankruptcy" (q.v.).See assignment for benefit of creditors, above.
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.
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