Winding Up - Law Dictionary Search Results
Home Dictionary Name: winding up Page: 2 Page 2 of about 52 results (0.004 seconds)Arrangements between debtors and creditors
Arrangements between debtors and creditors. The 125th and 126th sections of the (English) Bankruptcy Act, 1869, which repealed an Act of 1861, allowed liquidation by arrangement and composition with creditors by resolutions passed at similar representative meetings to take the place of proceedings in bankruptcy. The (English) Bankruptcy Act, 1883, having repealed the Act of 1869 without re-enacting these clauses, arrangements with creditors outside the law of bankruptcy became common, and in order to legalize and regulate these arrangements, the (English) Deeds of Arrangement Act, 1887, was passed and amended in 1890 by 53 & 54 Vict. c. 24. The law has now been consolidated by the (English) Deeds of Arrangement Act, 1914 (4 & 5 Geo. 5, c. 47), which repeals the Act of 1887, and also parts of the Bankruptcy and (English) Deeds of Arrangement Act, 1913, and contains practically the whole statute law on the subject. The Act is divided into five parts: (1) defining the deeds of arrangement...
Dissolution
Dissolution, the act of breaking up. A partnership may be dissolved either by a proper notice, or effluxion of time as agreed upon in the Articles of partnership, or by death, marriage, lunacy, bankruptcy, or by judgment of the High Court, (English) Partnership Act,1890 (53 & 54 Vict. c. 39), ss. 32-34.A dissolution is the civil death of the Parliament, and is effected in two ways:- (1) By the sovereign's will, expressed either in person or by representation. (2) By length of time, i.e., five (formerly seven) years. See (English) Parliament Act, 1911; SEPTENNIAL ACT. By the (English) Representation of the People Act, 1867 (30 & 31 Vict. c.102), s. 51, Parliament is not determined or dissolved by the demise of the Crown.When a company has been completely wound up by the Court, the Court must make an order that the company is dissolved from the date of the Order (English) (Companies Act, 1929 s. 221): as to dissolution on a voluntary winding up see ss. 236 and 245 ibid. Under the same s....
Fieri facias
Fieri facias, usually abbreviated fi. fa. (that you cause to be made), a judicial writ of execution, the most commonly used that lies for him who has recovered any debt or damages in the King's Courts. It is a command to the sheriff, that of the goods and chattels of the party he 'cause to be made' the sum recovered by the judgment, with interest at 4l. per cent. from the time of entered-up judgment, to be rendered to the party who sued it out. If the sheriff return nulla bona, an alias fi. fa. may issue; and upon that being returned, a pluries or testatum fi. fa. may be issued into another county. The 12th s. of the Judgments Act,1838 (1 & 2 Vict. c. 110), authorizes the sheriff to seize money, bank notes, cheques, bills of exchange, etc., of the person against whose effects the writ is sued out; but he cannot seize money or bank notes after the death of the debtor, Johnson v. Pickering, (1908) 1 KB 1.A writ of execution that directs a marshal or sheriff to seize and sell a defendants...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As 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 out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
Proxy
Proxy, a person appointed, usually by written authority, by a person entitled to vote personally, to vote at the discretion of the proxy. See Harben v. Phillips, (1883) 23 Ch D p. 35.As to voting by proxy under the (English) Companies Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 16), see sections 76, 77 of that Act; amended in the case of a company being shareholder, by the Companies Clauses Acts, 1888 and 1889.A letter 'for the sole purpose of appointing or authorizing a proxy to vote at any one meeting at which votes may be given by proxy, whether the number of persons named in such instrument be one or more,' must bear a penny stamp, must specify the day on which the meeting is to be held, and is to be available only at the meeting so specified, and any adjournment thereof [(English) Stamp Act, 1891, and First Schedule]. The Standing Orders of Parliament (L.S.O. 62 and C.S.O. 62) prohibit the sending out of stamped proxies in connection with extension bills. Directors, acting in ...
Falsification
Falsification.1. Pedigree.--For a vendor or mortgagor or other person disposing of property or any interest therein for money or money's worth to a purchaser of land or chattels real or personal, or for his solicitor or other agent to conceal from the purchaser any instrument or incumbrance material to the title or to falsify any pedigree upon which the title may depend, in order to induce a purchaser or mortgagee or his solicitor to accept the title offered, is a misdemeanour punishable by fine or imprisonment with or without hard labour, or both, for not more than two years, by the (English) Law of Property Act, 1925, s. 183, extend-ing the (English) Law of Property Amendment Act, 1859 (22 & 23 Vict. c. 35), s. 24 (Chitty's Statutes, tit. 'Conveyancing'), and the falsifier is also liable to an action for damages by the same enactment. The fiat of the Attorney-General is required before comm-encing a prosecution. [(English) L.P. Act, 1925, s. 183]2. Official Documents.--Making any mat...
Disclaimer
Disclaimer, a renunciation, or a denial by a tenant of his landlord's title, either by refusing to pay rent, denying any obligation to pay, or by setting up a title in himself or a third person, and this is a distinct ground of forfeiture of the lease or other tenancy, whether of land or tithe. See Vivian v. Moat, (1878) 16 Ch D 730, in which Fry, J., held landlords entitled to eject tenants without notice to quit on a letter disputing the right of the landlords to raise the rent and asserting a right to hold on a quitrent.A devisee in fee may, by deed, without matter of record, disclaim the estate devised, and after such disclaimer has no interest in the estate. An heir-at-law could not disclaim.An executor may, before probate, 'disclaim,' or as it is more properly called, 'renounce,' the executorship, and the executor of an executor may, before probate of the will of his own testator, disclaim to be the executor of the first testator; but he cannot so disclaim after he has proved the...
A and B lists
A and B lists. Two Lists of contributories are prepared by the liquidator in case a company is wound up. List A is prepared to include share-holders at the time of winding up order, who are primarily liable to contribute. List B is prepared to include the shareholders who are ceased to be but had been shareholders in preceding twelve months. Their liability to contribute is secondary...
B' List
'B' List. 'B' List is prepared by the Liquidator of a company on being wound up which includes the names of shareholders who are ceased to be, but they had been the shareholder during preceding twelve months and they are secondarily liable to contribute. See CONTRIBUTORY.B List, means the list of past members who have ceased to be members within a year of the beginning of the winding up, Halsbury's Laws of England, Vol. 8(1), Para 1720, p. 1253....
Misfeasance
Misfeasance, a misdeed or trespass; also, the improper performance of some lawful act. As to the distinction between misfeasance and nonfeasance, see McClelland v. Manchester Corporation, (1912) 1 KB 118, and cases there referred to, Guilfoyle v. Port of London Authority, (1932) 1 KB 336; and Coeshill v. Manchester Corporation, (1928) 1 KB 776. As to misfesance proceedings in the course of a winding-up against directors, promoters, managers or others, see Companies Act, 1929, s. 276....
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