"Preferential Assignment" is a word in LAW AND LEGAL
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.
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Several years ago, Andy was sentenced to prison. During his stay, he got along well with the guards and all his fellow inmates. The warden saw that deep down, Andy was a good person and made arrangements for Andy to learn a trade while doing his time. After three years, Andy was recognized as one of the best carpenters in the local area. Often he would be given a weekend pass to do odd jobs for the citizens of the community.... and he always reported back to prison before Sunday night was over.The warden was thinking of remodeling his kitchen and in fact had done much of the work himself. But he lacked the skills to build a set of kitchen cupboards and a large counter top which he had promised his wife. So he called Andy into his office and asked him to complete the job for him.But, alas, Andy refused. He told the warden, "Gosh, I'd really like to help you but counter fitting is what got me into prison in the first place".
In Scotch law. An abstract of the decree of adjudication, and of the lauds adjudged, with the amount of the …
Read the complete definitionone,who;ab-sconds from his credltors. An absconding, debtor is oue who lives without the stpte, or who has intentionally concealed himself …
Read the complete definitionIn the civil and Scotch law’.- A release made by a creditor to hls debtor of his debt, without receiving …
Read the complete definitionA writ of justices, formerly lying for the surety agninst a creditor, who refuses to acquit him after
Read the complete definitionIn the Roman law. The giving up to a creditor of hls debtor's person by a magistrate; also the transfer …
Read the complete definitionSomewhat of possession, and noth-lng of right, (hut no right) A phrase used by Bracton to describe that kind of …
Read the complete definitionIn the Roman law. A transcript or counterpart of the Instrument called “apocha.” signed by the debtor and delivered to …
Read the complete definitionIn the civil law. A species of mortgage, or pledge of immovables. An agreement by which the debtor gives to …
Read the complete definitionA creditor for whom an appraisal is made.
Read the complete definitionIn Scotch law. A form of process by which a creditor formerly took possession of the estates of the debtor …
Read the complete definitionThe application of payment of money by a debtor to his creditor, to one of several debts which are due …
Read the complete definitionA term used in Scotch, law in cases where there is more than the debt due to the adjudging creditor, …
Read the complete definitionProperty of a deceased person, subject by law to the payment of his debts and legacies; -- called assets because …
Read the complete definitionTo transfer, or make over to another, esp. to transfer to, and vest in, certain persons, called assignees, for the …
Read the complete definitionIn England, the persons appointed, under a commission of bankruptcy, to manage the estate of a bankrupt for the benefit …
Read the complete definitionThe transfer of the property of a bankrupt to certain persons called assignees, in whom it is vested for the …
Read the complete definitionA term used rel-atively to the law of fraudulent convey-ances made to hinder and defraud creditors, it is defiued as …
Read the complete definitionA trader who secretes himself, or does certain other acts tending to defraud his creditors.
Read the complete definitionA person who has com-mitted an act of bankruptcy; one who has done some act or suffered some act to …
Read the complete definitionA law relating to bankrupts and the procedure against them in the courts. A law providing a remedy for the …
Read the complete definition