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AS3Signals is a library by Robert Penner which provides an alternative to AS3 Events for communicating between objects. There are a number of reasons why Robert created the library, and the main advantages it provides are:
A Signal is a property of a class, which means you can define it on the interface for that class.
You can only listen to a Signal if the class has that Signal as a property—unlike events, where you can listen for a TimerEvent on an Elephant if you want to.
When you create a Signal, you define the number and type of arguments this Signal is going to dispatch.
When you add a handler to a Signal, the Signal does some checking to make sure your handler expects the right number of arguments.