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Rules for Loan creditors:
Loan creditors and landlords are subject to special rules in certain circumstances:(a) if a person (usually a bank) lends money to the company to enable it to pay wages which, if unpaid, would be preferential debts, he himself becomes a preferential creditor in respect of that part of his loan which is used to pay preferential wage debts;(b) a landlord's remedy if rent is unpaid is to seize and sell the tenant's goods on the premises (called "levying distress"). If he does not within six months before compulsory liquidation commences he must give up the proceeds if the liquidator requires them for payment of preferential debts. The rule does not apply in a voluntary liquidation: CA, s.311(7).
Ostensible Authority - Authority of Partners A difference is something drawn among the genuine and ostensible authority about a partner. Whether it is actual or express author
State Article 2 of Universal Declaration of Human Rights Article 2: 'Everyone is entitled to the rights and freedoms set forth in this Declaration...' - This clause iden
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
Types of Precedents There a precedent may be as; A binding precedent here judge must tag along whereas he approves of it or not. Hence it is excludes his judicial discr
General Partner - Liability of Partners The General partner's liability extends for the whole of the debts to the partnership. Thus he is jointly with the other partners. Conv
Protection of Hirer - Sales of Goods In the S.7 of the Act makes certain provisions void whether they are contained in such the hire purchase agreement, like e.g.: 1) Any t
Reservation of Name: To obviate the risk of choosing a name that ultimately turns out to be undesirable, the promoters should enquire from the regi
Objection to a variation of class rights: The company proposed to reduce its share capital by repayment of the 5% 1 pound Cumulative Preference Shares (which were entitled to
Manner of Transfer of Bills One of the characteristics of bills of exchange is such whereas A gives B a bill accepted through X in settlement of his debt, since this same ins
Hire-Purchase Law A person who wants to buy goods through does not have the like "money consideration" prescribed through the Sale of Goods Act like their price may enter in a
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