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Completed executions
A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it-
But he can retain any money received by him before that date (Re Andrew).
If the judgement exceeds Shs 400 the bailiff must retain the proceeds of sale for 14 days, and us hand over the proceeds to O.R. or trustee, of notice of a petition is served on him during that time; and the same applies if, before sale, notice is served on him that a receiving order has been made.
The court has discretion to set aside these rights in favour of the creditor if it thinks fit.
Remedies available to beneficiary 1) Injunction - to prevent unauthorised action by trustees; 2) Personal action - a trustee is only liable for his own acts and defaul
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Q. A case study on TIMBERTOPS? Cost of capital Use Ke = Do (1 + g)/ Po + g where g = br Retention rate b = 245 ÷ 442 = 55% Return on capital r = 442 ÷ (1,932 -
What are the effects on current income and on future income, if a firm incorrectly capitalizes an expenditure that it should have expensed? State your answer for both current inc
Accounts of trustees The trustee must keep proper books of account, which may be inspected by the creditors at any time. The cash book must be audited by the committee of insp
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Balance Sheet Preparation with a Missing Element The following data are available for Schubert Products Inc. as of December 31, 2012. Cash . . . . . . . . . . . . . . . . . . . . .
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