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UNSECURED ORDINARY DEBTS:
A secured creditor obtains payment (to the extent that his security is adequate i.e. if it exceeds in value the amount owing to him) because he has a valid prior claim to that security. Unsecured creditors are paid out of the remaining assets, i.e. the aggregate of:(a)any surplus value obtained by secured creditors in realising the assets which are their security and paid over to the liquidator, and(b)any assets which are not subject to charges given to secured creditors.But two special claims have to be given their due priority, i.e.(a)costs of winding up including the legal expemses and liquidator's remineration, and(b)preferential unsecured debts.
Companys articles - meetings and resolutions: The company's articles cannot deprive the members of the right to requisition a meeting under S.132 because the section requires
Requirements of Registration of Hire Purchase Agreements Each Hire purchase Agreement must will in the English language It have be delivered to registration with
Removal of Directors: By s.185(1) a company may by ordinary resolution remove a director before the expiration of his period of office, but notwithstanding anything in the art
John owns a 1951 Mercedes Sl that he wishes to sell. He instructs Ross to sell the car, and in return, will be paid £5,000 commission. Ross manages to find a buyer, Paul, Paul and
Special Crossing - Crossing on a Cheque Although S.76 (2) with such provides like "whether a cheque bears across its face an addition of, such the name like of a banker, whether
Explain about the international commission of United Nations. The International Law Commission: Established into 1948 year, the mandate of International Law Commission is
QUESTION 1 (a) What are usually accepted principles of corporate governance. (b) What factors can lead to incrising corruption in the business environment? QUESTION 2
Question 1: (i) Distinguish between industrial relations and employee relations. (ii) State the environmental factors that affect employee relations. (iii) Give five r
Termination - Duties of Owner Although below S.12 of the Act the hirer may on any time before the final payment may or instalment falls due to terminate the agreement through li
Disadvantages of Arbitration First is, Arbitral awards have no precedential value as that they cannot be relied on in subsequent proceedings Second is, Arbitrati
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