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VESTING OF PROPERTY IN TRUSTEES
The settlor must transfer the property to the original trustees in the proper legal manner. Similar transfers must be made on a change of trustee; but if a new trustee is appointed by deed, this operates to vest property automatically, except for: 1. Land conveyed by way of mortgage to secure trust moneys lent;2. Leasehold land held under a covenant not to assign without consent (unless consent is obtained); 3. Registered stocks and shares, which must be transferred in the proper manner S.41. The court has power to make vesting orders in appropriate circumstances.
Zoum Corporation had the following transactions during 2014: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land
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URL services has two divisions. Basic webpages and custom webpages. Ricky Vega, Custom's manager wants to find out why Custom is not profitable. He has prepared the following repor
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what is non-current asset
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You have the following limited information upon which to base your decision as to which is the better of two alternative funding arrangements: Alternative 1 is to arrange fun
PROTECTION AGAINST CLAIMS The trustees may protect themselves against claims after discharge in the following ways: 1. As regards liability for rent and other obligations und
Dissolution of a partnership A partnership is dissolved when: It is temporary (maybe set up for a given period which has lapsed); One partner notifies the others in writ
The assets and liabilities of Toronto Service Inc. as of December 31, 2008, and revenue and expenses for the year ended December 31, 2008 are listed below: Accounts
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