Divisible property-bankruptcy, Financial Accounting

DIVISIBLE PROPERTY

The property of the bankrupt divisible among creditors includes:

  1. Property belonging to the bankrupt at the commencement of the bankruptcy;
  2. Property acquired by him before his discharge ("after - acquired  property"); and
  3. In certain cases, property owned by, or in the hands of, third parties.


The 'property' of a bankrupt includes property held under a joint tenancy.

Posted Date: 12/13/2012 12:20:20 AM | Location : United States







Related Discussions:- Divisible property-bankruptcy, Assignment Help, Ask Question on Divisible property-bankruptcy, Get Answer, Expert's Help, Divisible property-bankruptcy Discussions

Write discussion on Divisible property-bankruptcy
Your posts are moderated
Related Questions



recommendation regarding the current south African vat system

You are considering whether or not to go to graduate school. Well... there are many things to consider, of course, such as the type of job you would thus get, the opportunity to li

CONVERSION INTO A COMPANY The partners may convert their business and trade in form of a company. This may be due to some of the advantages a company has over a partnership. E.g.

Illustrations of Dissolutions X, Y and Z have been trading as partners sharing profits and losses in the ratio of 2:2:1 on the 1st July 2005, they decided to dissolve the partn

Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w

1.) Assume a $1000 face value bond has a coupon rate of 8.5 percent, pays interest semi-annually, and has an eight-year life. If investors are willing to accept a 10.25 percent rat

Find the heading Goodwill. What type of an asset is goodwill? Does Amazon write off this asset? Explain what the company does