General Creditor - Law Dictionary Search Results
general creditor
Matched in: Term general creditor
Creditor's committee
Matched in: Term Creditor's committee
creditor
Matched in: Term creditor
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Insurance
to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404. Insurable Interest must be possessed by the person taking … Road Traffic Act,1930, s. 42] is, upon a winding-up, not earmarked for risks but available for the general creditors of the company (South-East Lancashire Insurance Co., 1935, Ch 225). Other provisions require the separation (s. 3) of
Liquidator
ss. 183-197 of the Act. (2) Liquidators of a company winding-up voluntarily are appointed by the company in general meeting to wind up its affairs and thereupon the powers of the directors shall cease except so far … duties of a liquidator are to collect, administer, and distribute the assets, having regard to the direction of creditors and contributories, and subject to the requirements of the Act. He must send in his accounts twice a
Bankrupt
141. The Bankrupt Law is distinguished from the ordinary law between debtor and creditor as involving these three general principles:--(1) a summary and immediate seizure of all the debtor's property; (2) a distribution of it among the
Winding-up
by the company, but only so far as the assets are insufficient to meet the claims of the general creditors. Transactions which would be avoided against an individual in his bankruptcy as a fraudulent preference (Bankruptcy Act, … value to be estimated justly (s. 261). If the company is insolvent, the rights of secured and unsecured creditors, the admissibility of debts and claims, and the valuation of annuities and future or contingent liabilities are to
Banking policy
141. The Bankrupt Law is distinguished from the ordinary law between debtor and creditor as involving these three general principles:--(1) a summary and immediate seizure of all the debtor's property; (2) a distribution of it among the
Appropriation of payments
the application to one of several debts of a sum of money paid by a debtor on a general account. The general rule as to appropriation of payments is this: The debtor may in the first instance … in the first instance appropriate the payment, solvitur in modum solventis; if he omit to do so, the creditor may make the appropriation, recipitur in modum recipientis; if neither debtor nor creditor make any appropriation, the law
Confusion, property by
him from the bankers will go to his assignees, and his employer can only come in as a general creditor under the bankruptcy. So, if the bankers had an account with the agent by way of set-off, that
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