Docstoc Legal Agreements
This General Assignment Agreement is a contract whereby an insolvent entity ("Assignor")
transfers legal and equitable title, as well as control of its property, to a third party
("Assignor") in trust, to apply the proceeds of sale to the assignor's creditors. A general
assignment is an alternative to bankruptcy and is structured to save time and expense in
concluding the affairs of an insolvent company. Through a general assignment, the
insolvent company's assets can be sold quickly and efficiently, and the liquidation proceeds
will be distributed to creditors shortly thereafter. This document should be used by
insolvent companies located in Arizona as an alternative to filing bankruptcy.
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GENERAL AGREEMENT
THIS AGREEMENT, made this _____ [Month] ____ [Date], 20____ by and between
_____________________________ [Instruction: Insert the name of individual/company]
hereinafter referred to as the “First Party” and _____________________________ [Instruction:
Insert the name of individual/company] hereinafter referred to as the “Second Party”.
In consideration of the mutual covenants and agreements to be kept and performed on the part of
said parties hereto, respectively as herein stated, the First Party does hereby covenant and agree
that it shall:
1. ___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
__________________________________________________________________________
[Instruction: Insert the obligation of first party]
2. And the said Second Party covenants and agrees that it shall:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
__________________________________________________________________________
[Instruction: Insert the obligation of second party]
3. Other terms to be observed by and between the parties:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
[Instruction: Insert any additional terms between the parties]
4. This Agreement shall remain in full force and effect, for a period of
___________________________ [Instruction: Insert term of the agreement].
This agreement shall be binding upon the parties, their successors, assigns and personal
representatives. Time is of the essence on all undertakings. This agreement shall be enforced
under the laws of the State of Arizona. This is the entire agreement.
© Copyright 2013 Docstoc Inc. registered document proprietary, copy not 2
IN WITNESS WHEREOF this Agreement has been signed the day and year first above
written.
Signed in the presence of:
____________________________________
____________________________________
[Instruction: Insert signature of witness #1] [Instruction: Insert signature of first party]
____________________________________
______________________________________
[Instruction: Insert signature of witness #2] [Instruction: Insert signature of second
party]
© Copyright 2013 Docstoc Inc. registered document proprietary, copy not 3
INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND
INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR
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EVEN IF DOCSTOC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. They are for guidance and should be modified by
you or your attorney to meet your specific needs and the laws of your sta