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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.
Valid But Irregular Allotments: An allotment of shares is valid but irregular under S.52 (3) if it was made before the time of the opening of the subscription lists. The secti
When is an employer not vicariously liable? An employer is not vicariously liable when: a. Worker is doing something in working hours as of a personal nature. b. She or h
Ratification - Law of Agency and Partnership However this is the adoption or confirmation through a person of a contract previously entered in through another. Well
QUESTION 1 Mr Tom, a businessman, has a commercial dispute with one of his clients. He has heard about Alternative Dispute Resolution and he believes that mediation, conciliati
Complaints made against the auditors: These are the most simple principles that such have to be applied to cases of this description. I protest, however, against the notion
Question 1: Define, distinguish and discuss the limits of each of the following mechanism of Alternative Dispute Resolution, namely; (a) Conciliation; and (b) Negotiation.
(A Safe Assign note : All work submitted will be checked for plagiarism using an automated tool developed by Blackboard. Work will be checked against a variety of sources including
Consideration - Element of Contract Just to an agreement to constitute a contract the common law of the England then adopted in the US, requires such, must be supported with c
Question: a. An Ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgre
Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w
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