assignment to secure pre-existing debt
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 49 U.S. 429 - Grove v. Brien · 1850Most cited · 30 citing opinions
In the absence of all evidence to the contrary, in case of an absolute assignment of property by a debtor to his creditor for the purpose of securing a pre-existing debt, an assent will be presumed on account of the benefit that he is to derive from it.