voluntary assignment

voluntary assignment
An assignment for the benefit of his creditors made by a debtor voluntarily, as distinguished from a compulsory assignment which takes place by operation of law in proceedings in bankruptcy. Such constitutes an assignment of a debtor's property in trust to pay his debts generally, in distinction from a transfer of property to a particular creditor in payment of his demand, or to a conveyance by way of collateral security or mortgage

Black's law dictionary. . 1990.

Look at other dictionaries:

  • voluntary assignment — A transfer, without compulsion of law, by a debtor, of his property to an assignee, in trust, to apply the same, or the proceeds thereof, to the payment of his debts, and to return the surplus, if any, to the debtor. Farwell v Nilsson, 133 111 45 …   Ballentine's law dictionary

  • voluntary assignment for creditors — See voluntary assignment …   Ballentine's law dictionary

  • assignment — as·sign·ment n 1: the act of assigning 2 a: a position, post, or office to which one is assigned b: a task assigned 3: a present transfer of property or rights absolute assignment: an assignment in which the transfer is complete and leaves the… …   Law dictionary

  • voluntary — vol·un·tary / vä lən ˌter ē/ adj 1 a: proceeding from one s own free choice or consent rather than as the result of duress, coercion, or deception a voluntary statement b: not compelled by law: done as a matter of choice or agreement voluntary… …   Law dictionary

  • voluntary — Unconstrained by interference; unimpelled by another s influence; spontaneous; acting of oneself. Coker v. State, 199 Ga. 20, 33 S.E.2d 171, 174. Done by design or intention. Proceeding from the free and unrestrained will of the person. Produced… …   Black'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

  • voluntary transfer — See voluntary assignment; voluntary deed …   Ballentine's law dictionary

  • assignment for benefit of creditors — A voluntary transfer of a debtor s property into a trust to be used to pay creditors. The trustee collects any income owed the debtor, liquidates the debtor s property that has been transferred to the trust, and uses the money to pay the debtor s …   Law dictionary

  • wage assignment — see assignment Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. wage assignment …   Law dictionary

  • Bankruptcy in Canada — The procedures and legal consequences of consumer bankruptcy in Canada are governed by Canadian federal legislation.OverviewConsumer bankruptcy is a legislative procedure under Bankruptcy and Insolvency Act ( the BIA ) *(1) complemented by… …   Wikipedia

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