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General assignment |
: an assignment for the benefit of creditors of all of a debtor's property to be distributed fairly to the creditors
compare preference
| Based on Merriam-Webster's Dictionary of Law ©2001. Merriam-Webster, Incorporated Published under license with Merriam-Webster, Incorporated. http://www.m-w.com |
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common-law lien
a lien under common law giving a creditor (as a bailee) in possession of property the right to retain possession until payment of the amount due
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