Proof of debts, Business Law and Ethics

Assignment Help:

PROOF OF DEBTS:

                                      Many of the rules of bankruptcy apply to the discharge of the company's debts: s.310.  The liquidator must obviously require satisfactory evidence that a creditor's claim is properly admissible as a liability.  This is done (where necessary) by a procedure for "proof of debts".

If the company is solvent every kind of debt which is legally enforceable may be admitted.  If it is insolvent unliquidated claims in tort are not admissible.  But the injured party may be permitted to bring an action against the company in tort so that his claim may be converted by the award of damage into a liquidated sum so long as it is liquidated when the claimant comes into prove.


Related Discussions:- Proof of debts

Discuss the trial period in a contract of employment, Question 1: "Le C...

Question 1: "Le Coco" is a well known hotel located on the north coast of Mauritius. Mr. B, a client of "Le Coco" hotel, was injured after a short heated argument with another

Determine the elements of the tort, Irene walked into a store carrying...

Irene walked into a store carrying a bottle of soda she had purchased a few days earlier. While in the store, she opened the bottle of soda and was drinking it while she

Public law and private law, Public Law: Whether it contain of those fi...

Public Law: Whether it contain of those fields or branches of law  where such the state has an interest as the sovereign egg criminal law, administrative law, constitutional l

Registration of prospectus, Registration of Prospectus:  S.43 (1) prov...

Registration of Prospectus:  S.43 (1) provides that no prospectus shall be issued by or on behalf of a company unless, on or before the date of its publication, there has been

Online quiz in Bus Law, Hi Dear, Could you please do my online quiz in Bus...

Hi Dear, Could you please do my online quiz in Business Law. This is a 10 question quiz, made up of a combination of multiple choice and true/false type questions. You have 12 min

Fundamentals of public health law, Fundamentals of Public Health Law T...

Fundamentals of Public Health Law The Honorable Art Vandelay has been a member of the U.S. Congress for 10 years, representing the 12th District in South Caledonia. Through hi

Fair work ombudsman options, Q. Fair Work Ombudsman options? The follow...

Q. Fair Work Ombudsman options? The following are a range of potential options for the FWO to mitigate phoenix activity. These options recognise that the FWO does not currently

Illustrate the private bill of members, Illustrate the private bill of memb...

Illustrate the private bill of members? Private members’ Bill: It is where some MP’s are specified the chance (through ballot) to introduce a Bill on something which is o

Agency by ratification, Agency by Ratification So then Agency by ratif...

Agency by Ratification So then Agency by ratification can only arise whether: The agent purported for act to a principal and one is The alleged principal was in exi

Name based definition of phoenix activity, Q. Name based definition of phoe...

Q. Name based definition of phoenix activity? The approach taken in New Zealand has been to define phoenix activity in terms of the re-use of the name, or a name similar, to th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd