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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.
Requirements of Registration of Hire Purchase Agreements Each Hire purchase Agreement must will in the English language It have be delivered to registration with
QUESTION 1 You are given the task to make a Code of Ethics for your organization (a) Describe a Code of Ethics (b) What are the different aspects/issues that you might in
STATUTORY INTERPRETATION: Conversely the precise connotation of a law written in an Act may cause a legal dispute. So this is so because, even though the law is written and c
Void Contracts - Law of Contract However these are contracts which the law treats as non-existent. Thus as a general rule illegal contract is only void although not certain r
State about the Median Voter Theorem Percentage of vote necessary for a proposal to be adopted, remember Median Voter Theorem, will affect the difficult of adopting a proposal,
State law of refugees Under international law, refugees are individuals who are outside their country of nationality or habitual residence; who have well-founded fear of discri
QUESTION 1 Discuss the possible defences available to a trustee in proceedings for breach of trust QUESTION 2 Consider the legal differences between a custodian and a m
how evidence is used to prove a criminal offence: This question is asking you to consider the importance of evidence, how it is used and how reliable it may be in supporting
Determine the term - cyclic majority voting The cyclic majority voting, a problem first recognized by Marquis de Condorcet in 1785, the indeterminacy of voting process, has bee
What is legislation in law? Legislation Legislation is the formalisation of rules and processes by the UK Parliament. This does that by passing acts of parliament or sta
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