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Form #1318ASSIGNMENT'S EFFECT FOR BENEFIT OF CREDITORS
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ASSIGNMENT'S EFFECT FOR BENEFIT OF CREDITORS
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site to another site offering free legal or other document forms for download.
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form, and you agree to abide by these terms. It is highly recommended that you have
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Your use of this site constitutes your acceptance of our terms of use and your
agreement to hold this site, its officers, employees and any contributors to this
site harmless for any damage you might incur from your use of any submissions contained
on this site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
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that no legal advice, accounting, or other professional service is being offered
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ASSIGNMENT'S
EFFECT FOR BENEFIT OF CREDITORS
The principal or agent may view any
of the following acts as defaults under this agreement. The principal or agent
may choose to terminate the agreement on these grounds:
1. If the other party makes an
assignment that benefits their creditors, files bankruptcy, applies to any
agency for a receiver or a trustee of any part of the party's property, begins
reorganization, either now or in the future;
2. If anyone brings an action or
lawsuit against the other party and it remains unsettled for a period of
__________ (30) days; or
3. If the other party indicates
consent to, or approval of, any proceeding of a trustee for the party, or
suffers such receivership or trusteeship to continue unsettled for a period of
__________ (30) days.
The principal or agent may view any
of the following acts as defaults under this agreement. The principal or agent
may choose to terminate the agreement on these grounds:
1. If the other party makes an
assignment that benefits their creditors, files bankruptcy, applies to any
agency for a receiver or a trustee of any part of the party's property, begins
reorganization, either now or in the future;
2Â If anyone brings an action or
lawsuit against the other party and it remains unsettled for a period of
__________ (30) days; or
3. If the other party indicates
consent to, or approval of, any proceeding of a trustee for the party, or
suffers such receivership or trusteeship to continue Unsettled for a period of
__________ (30) days.
________________________________
Signature
_______________________________
Signature
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or any other commercial use is prohibited. This includes reposting forms from this
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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Keywords: ASSIGNMENT,EFFECT,BENEFIT,CREDITORS
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