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.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
