1. When the same assets of a debtor are given to a trustee to sell them and pay off debt. 2. Giving a part of the sales in a letter of credit to the manufacturer as a promise to pay for goods. AKA letter of assignment.
Link to This DefinitionDid you find this definition of DEED OF ASSIGNMENT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary