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Assignment For The Benefit Of Creditors 
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

The action by which an individual or company (assignor) transfers legal title to property to a trustee (assignee), who is empowered to administer and liquidate the property and to distribute the proceeds to the creditors.

Such an action is one of the acts of bankruptcy constituting grounds for the involuntary petition in bankruptcy by creditors.

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