In an assignment for the benefit of creditors,if each creditor is paid an equal share of his original obligation,the debtor is then discharged from any further obligation to the creditor.

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In an assignment for the benefit of creditors, the debtor's assets are distributed to creditors proportionally based on the amount of their claims, not necessarily paying each creditor an equal share of their original obligation. The debtor is discharged from further obligations only if the distribution covers the full amount of the debts or if the creditors agree to discharge the debtor as part of the assignment agreement.

In an Assignment for the Benefit of Creditors,if Each Creditor