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

Outline the role played by each of these institutions, QUESTION 1 In Ma...

QUESTION 1 In Mauritius, Industrial Relations are dealt with by a number of specialist institutions. Outline the role played by each of these institutions. QUESTION 2 "

What is the theory of contracts, What is the Theory of Contracts The sp...

What is the Theory of Contracts The specialized relationship between principal and agent and between agents themselves in the policy process has been explained with the economi

Examples of laws that were created to force ethical behavior, 1. Sometimes ...

1. Sometimes laws are created that are done for ethical reasons. For instance, it is wrong to pollute, so Congress passed the Environmental Protection Act, which punished those tha

Find out the tort, 1. Chuck walked into a room. As a joke, Matt stuck his l...

1. Chuck walked into a room. As a joke, Matt stuck his leg out so that Chuck would trip Chuck tripped and in so doing, dropped the bottle of soda he was carrying. In the

Involuntary restraints - law of contract, Involuntary Restraints - Law of C...

Involuntary Restraints - Law of Contract Although these are restraints imposed by professional bodies and trade associations at their members to certain purposes as e.g. enhan

Business ethics and public relations, Select an existing business that is d...

Select an existing business that is dealing with, or has recently dealt with, a negative public relations situation involving business ethics. You may also use your own company. Co

The position in uk with the capital maintenance doctrine, QUESTION 1 Th...

QUESTION 1 The Bank of Mauritius has got various objects. It has therefore got various functions and powers in order to achieve the attainment of its objects. Discuss QUEST

Values, V alues Basic convictions or beliefs which are specific beh...

V alues Basic convictions or beliefs which are specific behaviors and out- comes are more desirable compare to others. Values are judgmental in which they include our ideas

Critically analyze the steps while dealing ethical dilemma, Question: a...

Question: a. An Ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgre

Legal rights - winding up, Legal rights - Winding up: In substance the...

Legal rights - Winding up: In substance these two people are really partners" and by analogy with the law of partnership (which permits dissolution if the partners are really

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