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Types of transaction - reconstructions:
It will be seen that methods (a) and (b) relate to specific types of transaction. They can only be used in those transactions. The flexibility of a scheme of arrangement has led to its extended use though there is some doubt whether it is correct to use it in a situation where company law affords some other and more specific procedures.
Where there is a choice of method the choice is usually between a scheme of arrangement and some more specific alternative method.
Procedural Technicalities: In fact here the procedure in the common law courts was highly technical and many good causes of action that were lost due to procedural technicalit
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Holder or Other Holder in Due Course The holder of a bill of exchange who that does not come within the statutory definition of such a holder in due course holds that the bill
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