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DISCLAIMER OF ONEROUS PROPERTY1) Effect of disclaimerThe trustee may disclaim onerous property consisting of: Land burdened with onerous covenants; Stocks and shares;2) Time for disclaimerThe trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as the court may allow.3) Disclaimer of leasesIn principle where the bankrupt is a lessee the lease cannot be disclaimed without leave of the court; but such leave is not required in many cases.4) Rights arising on disclaimerAny person interested in property disclaimed may apply to the court for an order vesting the property in himself; but the court will not make a vesting order in respect of a lease unless the lease is taken subject to the same liabilities and obligations as bound the bankrupt.
Any person injured by the disclaimer may prove in the bankruptcy to the extent of his loss.
Firm Value: Old School Corporation expects an EBIT of $9,000 every year forever. Old School currently has no debt, and its cost of equity is 18 percent. The firm can borrow at
Circumstances under which a subsidiary company can be excluded from consolidation Consolidated financial statements shall include all subsidiaries of the parent A parent need
SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Cer
Apple Corporation has been hearing complaints from some shareholders about returning some of the $150 billion in cash that the corporation has. Some shareholders think a large divi
if you inherited 45,000 today and invested all of it in a security that paid a 7 percent rate of return how much would you have in 25 years
Q. Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease d
Q. Explain Final Location Survey? A final Location Survey is under taken on the completion of traffic survey to select the final rout of the line to be constructed, taking into
Q. What is Audit Sampling? Audit Sampling - Application of an AUDIT procedure to less than 100% of items within anaccount BALANCE or class of transactions for purpose of evalua
journal entries
Determine out the future value of Rs.1000 compounded yearly for 10 years at an interest rate of 10 percent. Solution: The future value 10 years thus would be FV = PV (1+k)
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