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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.
1. Maryland is one of a few states in which contributory negligence is a complete defense, barring the plaintiff from any recovery. What is contributory negligence? How does it com
Possessory Lien Possessory Lien right of a party in possession about anothers goods to retain like the m as security about an obligation owned as in the owner. Therefore the
QUESTION 1 The Bank of Mauritius has got various objects. It has therefore got various functions and powers in order to achieve the attainment of its objects. Discuss QUEST
Explain Constituent instruments Constituent instruments of international organizations, in which a treaty becomes a statute of an international organization, for example, Inter
Power to dispense with the word "Limited": Although s.5 provides that the last word of the name of a limited company must be "limited" this would n
Differences members and creditors voluntary wind up: main differences between a members' and a creditors' voluntary winding up are that : (a) in a creditors' voluntary win
What is the difference between an express term and an implied term? Provide me with an example of each.
Q. What do you mean by Electrolysis? In electro refining, the impure metal is taken as the anode and a strip of pure metal coated with a thin layer of graphite is made .the cat
NEGLIGENCE: It is still uncertain whether damage caused by negligence can be brought under the heading of "fraud" for the purpose of the exception of "fraud on the minority."
John owns a 1951 Mercedes Sl that he wishes to sell. He instructs Ross to sell the car, and in return, will be paid £5,000 commission. Ross manages to find a buyer, Paul, Paul and
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