Trustees duties in administering the d of a, Financial Accounting

Trustee's duties in administering the D of A

1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of A.

2) To pay all creditors equally unless the D of A gives priority to those debts which would be preferential in bankruptcy (as it usually will)?

Note that since the B.A does not apply to the D of A, rules such as those relating to disclaimer of onerous property, reputed ownership and voidable settlements are inapplicable.

Posted Date: 12/13/2012 1:37:52 AM | Location : United States







Related Discussions:- Trustees duties in administering the d of a, Assignment Help, Ask Question on Trustees duties in administering the d of a, Get Answer, Expert's Help, Trustees duties in administering the d of a Discussions

Write discussion on Trustees duties in administering the d of a
Your posts are moderated
Related Questions
Trade Sources of Information Within for instance the credit card industry it isn't uncommon for information on an individual's credit rating to be shared. In a alike vein withi

What are some examples of adjusting entries that are made at the end of the accounting period to bring general lever accounts balance in accordance with GAAP.

IF I HAVE A LOAN AND ACCRUED INTEREST .THEN ACCRUED INTEREST GOES ON WHICH SIDE- DEBIT OR CREDIT ?

Sigma is thinking about purchasing a new clam digger for $14,000. The expected net cash flows resulting from the digger are $9,000 in year 1, $7,000 in year 2, $5,000 in year 3, an

The risk-free rate of return, rRF , is 10%; the needed rate of return on the market, rM, 16%; and Schuler Company's stock has a beta coefficient of 1.6. a.       If the dividend

Brazil Corporation was organized on January 1, 1999. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock, and 500,000 shares of common stock with a par val

Maghrabi Enclosure follows a moderate current asset investment policy, but it is considering whether to shift to a different strategy. The firm''s annual sales are $500,000; its f

The following table represents the demand for a product for the years 1990 to 2007: a.    Develop a linear trend line and use it to predict the quantity demanded for 2008,

Internal Rate of Return

CONSOLIDATED INCOME STATEMENT AND CONSOLIDATED STATEMENT OF CHANGES IN EQUITY     The consolidated income statement follows similar principles as those of the consolidated balanc