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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.
Theories of self-enforcing or implicit contracts These theories relate to the problem of limits to which legal compulsion can be employed (due to information or transaction cos
Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t
You are a Graduate Legal Officer employed in the Constitutional Policy Unit of the Australian Attorney-General's Department. Until this point, your supervisor, Rodger Dodger, has p
Deadlock in the management: The company existed only to "work a particular patent" and as it could not do so it should be wound up. But if there are two or more alternative
I have an order in and I want to know what the 829.2 means and the order is 12.00?
State Article 2 of Universal Declaration of Human Rights Article 2: 'Everyone is entitled to the rights and freedoms set forth in this Declaration...' - This clause iden
What is a condition precedent? Provide me with an example.
QUESTION 1 Describe the various sources of law that exist QUESTION 2 Define „Statutory Interpretation? and explain the various methods that exist to interpret a statute
Objects of the Law Society Whereas under sec 4 of the Act society object as established are as: For maintain and improve the standards of learning and conduct of
Enumerate the Working of coordination mechanism Take interesting case which will clarify the working of coordination mechanism better. If a member State in EMU, defaults on it
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