Assignment

Transfer of property by one to another. At common law, things in action were not a ignable, but equity generally treated them as declarations of trust and held the a ignor as trustee for the a ignee; modern statutes frequently authorize such a ignments. Negotiable paper is transferable by the customs of merchants. Failing debtors often make a ignments of their property to a trustee for the benefit of their creditors; these are generally regulated by statute.