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ASSETS IN THE POSSESSION OF CREDITORS:
If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the winding up or on receiving notice that it is about to begin the creditor has not completed the process of recovering what is owed to him, the liquidator may compel him to return the asset to the company.
Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o
Exceptions to the rule in Foss v Harbottle: According to Professor Wedderburn, the so-called exceptions are essentially no exceptions at all. They appear to be circumstances
Wishes of members of parliament -Disadvantages law: However acts of Parliament do not reflect the wishes of the people as voters although the wishes of the individuals that wh
Defects in Appointment: S.181 provides that a director's acts shall be valid despite any defect that may afterwards be discovered in his appointment or qualification. This pro
Executory Consideration - Types of Consideration Although Executory consideration consists of a promise made about one party and a promise made through the other party to the
Unity and continuity of domicile Conversely S.10 of the Act provides such no person may have more than one domicile at any one time and no person shall be deemed for be witho
WINDING UP ON: "THE JUST AND EQUITABLE GROUND": Unlike the other five grounds this one is widely interpreted and it is no objection that the petition is based on facts u
Ddisadvantages - mergers and winding up: The disadvantages of s.280 are that cash may have to be provided to pay off creditors and dissenting members or alternatively the sale
In entrepreneurship development, we have studied various aspects of Entrepreneurship Development, which will help in setting your own workshop. Though all the information has been
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