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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).
Discuss about the International Court of Justice as the organisation of United Nations. The International Court of Justice (ICJ): Its major functions are to settle legal
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Declaration and Payment: There is no provision in the Act dealing with payment of dividends. It is therefore governed by the provisions of the company's articles, failing whic
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Question 1 A contract comprises od reciprocal promises. In the contract of sale who is an unpaid seller? Describe the remedies for breach of contract under Sale of Goods Act, 1930
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