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PREFERENTIAL DEBTS:
These unsecured debts which rank ahead of a floating charge and non-preferential debts are:(a) one year's taxes, i.e. corporation tax, PAYE income tax deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
LEGAL LIABILITY FOR LABORATORY ACCIDENTS IN EDUCATIONAL INSTITUTIONS : As mentioned in some of the earlier sections, law is not directly available to decide legal liability for la
Name the issue pertaining to state succession The first issue pertaining to state succession is treaties. The new state would have to embark upon with the treaties signed by th
Liability of Guarantor Therefore a guarantor's liability which does not arise until whether the principal debtor has made default, because notice of the default utilized not b
This project requires you to choose an organisation of your own choice and discuss on the following with respect to your chosen organisation: External Environment Mega
QUESTION 1 (i) What are the principles applicable regarding the unjustified termination of a contract of employment (ii) What would be your views regarding the legal issues
Variation of class rights of the preference shareholders: This was not a variation of class rights of the preference shareholders. The company could resolve to go keen on liq
Domestic Agency of Necessity However a married woman that has been actually or constructively deserted through her husband has authority on common law to take necessities at c
Executed Consideration - Types of Consideration Actually Executed consideration is constituted through something done by the plaintiff because to a promise made with the defen
UNSECURED ORDINARY DEBTS: A secured creditor obtains payment (to the extent that his security is adequate i.e. if it exceeds in value the amount owing to him) because he has a
#questonline exam of business law about 20 qestions ( T and F , MC, and short answers ) The exam will open just for two hours The exam will start half of hour from now >> can yo
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