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
Notsofast Inc. acquired land for $500,000 on 7/1/2010. It erroneously recorded the full amount as an expense. Explain what Notsofast must do when it discovers the error in 2011. Wh

FV of Bond 20000, CR 0.045, MR 0.059, Remaining payments 32. Answer

Q. Explain about Credit-worthiness? There are a numerous ways in which Fenton Security plc could ensure that customers are subjected to tighter credit appraisal checks before g

Clarity and transparency The terms of the payment package must be clear and transparent so that directors and shareholders are in no doubt as to when rewards have been earned o


Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb

This is partly taken from a court case where one of my colleagues was a witness. Suppose that an employee is terminated without cause and that she sues the company for compensation

Q. What is Audit Sampling? Audit Sampling - Application of an AUDIT procedure to less than 100% of items within anaccount BALANCE or class of transactions for purpose of evalua

Limited Liability Partnership (LLP) - GENERAL PARTNERSHIP which, via registration with an appropriate state authority, is able to enshroud all its partners in limited liability. Ru

Surviving Spouse - This is a person whose wife or husband died during tax year. A surviving spouse can file a JOINT RETURN for the year in which death occurred. Additionally a join