Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
General rules on statute-barred debts:
A statute-barred debt should be rejected since it is not legally enforceable. But in a members' voluntary winding up the liquidator may with the consent of all contributories pay such a debt. The general rules on statute-barred debts are:
(a) in a normal case a debt becomes statute-barred (i.e. the creditor may no longer take legal proceedings to enforce payment) if it remains unpaid for six years and the creditor does not within that time commence legal proceedings to recover it.
(b) the company becomes liable again to pay a statute-barred debt (after six years) if it issues to the creditor a written acknowledgement of its indebtedness.
The liquidator must also consider whether any debts of the company arise from contracts which are ultra vires or ultra vires the company but made by the directors without authority. The liquidator must according to his judgement of the legal position either.
(a) reject the creditor's claim as invalid if that is possible, or
(b) consider claiming compensation from the directors who made the unauthorized contract on the grounds of their misfeasance under s.323.
Distribution of Surplus Assets: If the debts are paid in full the liquidator should apply what remains in repayment of capital paid on shares and then distribute any residue t
Negotiable Instruments A negotiable instrument cannot be described regards precision, although can be explained like a commercial document that represents money. Whether it pa
On 10 March 2011 the ACCC accepted an undertaking under the Competition and Consumer Act 2010(Cth) from Patterson Cheney Pty Ltd in relation to alleged misrepresentations made by t
Q. Publication of list of repeat offenders ? As a part of the joint education campaign option, or separate to the education campaign, a ‘naming and shaming' approach could also
# difference between variation of class right and variation of enjoyment
Process to illustrate the various spillover effects A Spillover effects specifically for monetary policy in a modified version of the Mundell-Fleming model. This will be done
Chartered Companies: A chartered company is formed when the Queen or King of England issues a charter, or "letters patent", to a group of people who intend to carry on a busin
Function and Powers of Chairman: In the case of National Dwellings Society v Sykes Chitty, J. stated: "It is the duty of the chairman, and his function, to preserve order,
You are a Graduate Legal Officer employed in the Constitutional Policy Unit of the Australian Attorney-General's Department. Until this point, your supervisor, Rodger Dodger, has p
State about the Stages in the policy process Stages in the policy process are generally conceptualized within a broader environment governed by constitutional rules, political
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd