Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Avoidance of Floating Charges:
Under s.314 liquidation automatically renders void any floating charge created within the period of 12 months before commencement of liquidation subject to the following exceptions:
(a) valid if the company was solvent at the time when the charge was created. A company is not solvent unless it can pay its debts in full as they fall due;
(b) if the company was not solvent the floating charge is still valid as security for cash paid to the company (with interest at six per cent per annum) after the charge was created and in consideration of the loan.
The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtaining a floating charge to secure an existing debt at a time when the company is heading towards insolvent liquidation. It is only the charge (as security) not the debt itself which becomes void.
RULE IN FOSS v HARBOTTLE: What has come to be recognized in company law as "the rule in Foss v Harbottle" is the decision of Vice-Chancellor Wigram in the case of Foss v Harb
An employee at the supermarket you manage mopped one of the aisles in the store and placed signs at the ends of the aisle to warn people not to use the aisle until the floor dried.
Discuss about the three streams There come times, however, when these three streams are joined. An event in the political stream, such as a change in administration, calls for
Subject-Matter of the Contract Through S.7(1) the goods such form the subject-matter of a contract of sale may exist either possessed or existing goods may like owned by the
Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t
1. Justices in the U.S. Supreme Court are appointed for life. Unless they choose to retire, they have the right to remain in office and cannot be removed by congress or by the Pres
Question: (a) Ethics is the set of moral principles by which people conduct themselves personally, socially, or professionally. Critically analyze the basic ethical values
Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)
State about the Median Voter Theorem Percentage of vote necessary for a proposal to be adopted, remember Median Voter Theorem, will affect the difficult of adopting a proposal,
Transfer of Immovable Property By S.54 Property Act, 1882 as Note: This Act is applicable in the US requires that a transfer of immovable property worth over as 100 rupees mus
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd