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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.
Law of Contract: Mr.Sakr who owns a factory in Baabda for manufacturing furniture, signed a contract in his factory in 12-7-2009 with Mr.Abdo who used to import woods from Bra
State the Definition of equilibrium The approach of equilibrium refinements aims at strengthening the definition of equilibrium itself in order to purge others out as possible
Agency Law - Agency and Partnership Sources of Agency Law However the law of agency in the US is based on the common law rules that have been developed through the Engl
Some provisions of the Factories Act and its amendments are given below. 1. These provisions relate mainly to the health, safety and welfare of the workers in industry. 2.
Legislature-Executive Trade off Let us move a bit closer to the reality. In standard modes of policy optimization we assure that there is a single policy maker, who controls th
Authority of Precedent - Statement of Salmond There writing on the authority of the precedent Salmond has stated as follows like; "The importance of judicial precedent has
Which was the first global treaty The IAEA was the first global treaty regulating and facilitating the trade of nuclear technology through its provisions. Within the framework
Bagra Used Cars Ltd. has as the most prominent show on its lot an immaculate, highly polished model which rotates slowly on a raised circular platform under powerful floodlights. T
What is Expansionary Bias The domestic country's bliss point (B) is now below the 45 degree line and the foreign country's bliss point (B 1 ) above the 45 degree line. With sep
Proceedings at meetings - Held: Held: The resolution as passed was invalid since it was not the special resolution of which notice had been given. Even the retention of 321 p
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