Which of the following is a transfer or assignment by a debtor of title to property to a trustee or an assignee who sells the property with the proceeds of the sale going to pay creditors on a pro rata basis?

Question

Quizplus · Accepted Answer

A)A voluntary action the debtor can make to pay debts is to transfer,or assign,title
of his or her property to a trustee or an assignee who sells the property to pay the creditors on a pro rata basis with the proceeds of the sale.This transfer of title is called assignment for the benefit of creditors.
B)A voluntary action the debtor can make to pay debts is to transfer,or assign,title of his or her property to a trustee or an assignee who sells the property to pay the creditors on a pro rata basis with the proceeds of the sale.This transfer of title is called assignment for the benefit of creditors.

Which of the Following Is a Transfer or Assignment by a Debtor