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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 deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
American Courts, though vested with considerable Constitutional authority, are limited in power by the other branches of the government, the States to some extent, and the people.
Restricted Names: Section 17)1) of the Registration of Business Names Act provides that no company shall be registered under a business name: (a) which contains any wo
Obiter Dictum Thus now "by the way" statement made through a judge before delivering his judgement within a view to strengthening or re-enforcing his reasons to the decis
Effects of an Order for Compulsory Liquidation: The effects of the order are follows as are: (a) the Official Receiver (an Official of the High Court whose duties relate ma
State the two alternatives of Policy Clustering That combines an element from each of these first two alternatives. One might think of it as a set of processes characterized by
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As a senior HR officer in Catastrophe Concepts HR department, you have been asked by George Chapel to prepare a management briefing regarding the situation. Your report should:
Acceptance - Element of Contract However this is the external manifestation about assent through the offeree. Regarding to acceptance an agreement comes with existence between
Contractual Capacity of Persons of Unsound Mind Furthermore a contract entered into through a person of unsound mind is voidable on his option whether it is proved that the ot
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