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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.
Assignment of Share in Partnership Whereas as has been stated, never new partner may be bring in without the consent of all other partners as well like accordingly no partner
TAKE-OVER BID: If Company A ("the transferee company") offers to acquire shares of Company B ("the transferor") and the scheme or contract to which the off
Explain what are the primary & secondary sources of information that you can use to conduct your research. If it is primary/secondary, or both state reasons for your answer.
Suing and being Sued: Because a company is at law a different person altogether from its members it follows that a wrong to, or by, the company does not legally con
Compulsory Liquidation : A petition is presented to the High Court under s.218 of the Companies Act. The petition will specify one of the
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What is the principal-agent paradigm Controversies on the decisions of many state governors and other ministers can be cited as examples. Such behaviour reflects their willing
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Owning of Property: Under Act of a registered company, as a person, has power to own movable and immovable property. It can actually do so if it can affo
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