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PREFERENTIAL ASSIGNMENT. An

Categories: Property

Definition (1910 Edition)

assignment of property for the benefit of creditors, made by an insolvent debtor, in which it 1s directed that a preference (right to be paid first in full) shall be given to a creditor or creditors therein named.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.