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Assignment of Debt definition
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Assignment of Debt
Where a debt owed to a party is assigned (sold) by that party to another. The party who owes the money then pays the new lender. Notice of assignment of a debt should be in writing.
Found on
http://www.encyclo.co.uk/local/20550
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Synonyms
charge
cue
duty
exercise
job
operation
task
undertaking
work
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Where a debt owed to a party is assigned (sold) by that party to another. The party who owes the money then pays the new lender. Notice of assignment of a debt should be in writing.