term:

Assignment

assignment n

1 : the act of assigning
2 a : a position, post, or office to which one is assigned
b : a task assigned
3 : a present transfer of property or rights

absolute assignment
: an assignment in which the transfer is complete and leaves the assignor with no interest in the property or right transferred

assignment for the benefit of creditors
: assignment of property by a debtor to an assignee to be held in trust and used to pay off the debtor's debts

assignment of income
: an assignment by one taxpayer to another of income for the purpose of avoiding taxes

assignment of lease
: an assignment by a tenant of all of his or her remaining rights in a property under a lease compare sublease

effective assignment
: an assignment by which the assignor's interest in the property or right being assigned is terminated and transferred to the assignee

equitable assignment
: an assignment (as of property in which one has a future interest) that is not valid at law but that would be upheld in a court of equity

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

wage assignment
: an assignment by an employee by which an amount of his or her wages are transferred to another party (as a creditor) before the wages are paid to the employee compare garnishment

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.