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Principle of floating charges: The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtai
Question 1: (a) Define the term "Multimodal transport". (b) State the advantages of multimodal transport for forwarders. (c) Describe the different forms of multimodal trans
PREFERENTIAL DEBTS: These unsecured debts which rank ahead of a floating charge and non-preferential debts are: (a) one year's taxes, i.e. corporation tax, PAYE income tax de
DUTIES OF AUDITORS: The duties of auditors are explained in the following cases. 1. RE: KINGSTON COTTON MILL CO. (1896)(CHANCERY) For some years before a company was wou
Manner of Transfer of Bills One of the characteristics of bills of exchange is such whereas A gives B a bill accepted through X in settlement of his debt, since this same ins
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QUESTION 1 (a) Section 45(10) provides for remedies that the Independent Review Panel may recommend if it finds merit in an application for review. State three of those remedie
Function of the Court: In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated: "But important though its task is to see that the procedure by
Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally
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