Financial assignment

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Financial assignment is an informal procedure for liquidating debts that transfers title to a debtor's assets to a third person, known as an assignee or trustee.


Definitions

According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),

Assignment. An informal procedure for liquidating debts that transfers title to a debtor's assets to a third person, known as an assignee or trustee.

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