Agreements to settle property-bankruptcy and liquidation, Financial Accounting

Assignment Help:

Agreements to settle property

The trustee is not bound by such an agreement if it remains executory. If property has already been settled, the trustee can recover it unless it is proved:

That the settlement was made more than two years before the bankruptcy, or
That, at the date of the settlement the bankrupt was able to pay all his debts without the aid of the settled property, or
The agreement related to property expected to accrue to the bankrupt on the death of a named person and was made within three months of its coming into his possession.

Related Discussions:- Agreements to settle property-bankruptcy and liquidation

Scope, scope of financial accounting

scope of financial accounting

Admission of a new partner, Admission of a new partner When a new partn...

Admission of a new partner When a new partner joins the firm/partnership, the new partner will enjoy the benefits arising as a result of goodwill created by the old existing pa

Situational Decsisions, Presented below are four independent situations whi...

Presented below are four independent situations which you as a Manager Trainee employed with Your Company have been asked to evaluate. Evaluate each situation based on what each re

Rules of intestacy-no spouse but children, The intestate leaves no spouse b...

The intestate leaves no spouse but children The net estate devolves upon the surviving children and is divided equally between them. If any child has not, at the time of intest

Ledger, “Ledger is said to be the principal book entry and the transactions...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Identify the various prices for job, Identify the various prices for job ...

Identify the various prices for job To identify the various prices for job, there are numerous points to be considered, including: ?How many garages shall we visit? ?What

Fair value adjustment-group accounts, Fair value adjustment IFRS 3 requir...

Fair value adjustment IFRS 3 requires that goodwill on consolidation should be based on the fair values of the net assets of the subsidiary company on the date of acquisition. T

Prepare statement of income and comprehensive income, The following income ...

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2013 ($ in 000s): sales revenue, $

Conversion of members'' to creditors'' winding up-liquidation, Conversion o...

Conversion of members' to creditors' winding up If the liquidator in a members' winding up forms the opinion that the company will not be able to pay its debts in full within t

IRR, what managers should know about internal rate of return( IRR) and wh

what managers should know about internal rate of return( IRR) and why

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages