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Simple English definitions for legal terms

assignment of income

Read a random definition: Repossession

A quick definition of assignment of income:

Assignment of income is when someone transfers their right to receive money or property to someone else. This can happen for many reasons, like paying off a debt or giving a gift. There are different types of assignments, like absolute assignments where the person giving the assignment has no more rights to the property, or conditional assignments where the transfer only happens if certain conditions are met. Wage assignment is a common type of assignment where a person gives their right to receive part of their paycheck to a creditor.

A more thorough explanation:

Assignment of income refers to the transfer of rights or property from one person to another. It can be the transfer of wages, property, or any other right or interest. The person who transfers the rights is called the assignor, and the person who receives the rights is called the assignee.

For example, if a person owes money to a creditor, they may assign a portion of their wages to the creditor until the debt is paid off. This is known as a wage assignment.

Another example is when a person assigns their stock options to someone else. This means that the assignee now has the right to buy the stock at a certain price, instead of the assignor.

There are different types of assignments, such as absolute assignment, conditional assignment, and equitable assignment. The type of assignment depends on the terms of the transfer and the rights involved.

Overall, assignment of income is a legal process that allows for the transfer of rights or property from one person to another.

assignment of error | assignment-of-income doctrine

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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