WHAT IS THE LAW OF TENANCY BY THE ENTIRETY? ANSWER: An estate held in tenancy by the entirety is limited to “homestead” property held by a husband and wife “during coverture.” The Illinois statute authorizing transfer of property into tenancy by the entirety states as follows: “Whenever a devise‚ conveyance‚ assignment‚ or other transfer of property‚ including a beneficial interest in a land trust‚ maintained or intended for maintenance as a homestead by both husband and wife together during
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1. Meaning of Winding up or liquidation The winding up or liquidation of a company means the termination of the company by stopping its business‚ collecting its assets and distributing creditors and shareholders‚ in the manner laid down in the Act. 2. Mode Of Winding Up According to section 234‚ the winding up of a company)‚ may be done in any three ways: one of the following (I) Compulsory winding up by the Court (ii) Voluntary winding up b)‚ the members or by creditors (iii) Voluntary
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o Company application is taken out by workmen of M/s. Swadeshi Mills Co. Ltd. These workmen are five out of the 735 workmen who were employed in the Mill. o They had filed proof of debt before the Official Liquidator. They inter alia claimed that they should be paid up to the date of the order of winding up. The Official Liquidator has paid them till the date of the appointment of Provisional Liquidator‚ taking that as the relevant date. Since this view taken by the Official Liquidator affects large
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2401‚ Taft Avenue‚ Manila‚ Philippines De La Salle University It takes two to tango: An empirical tale of distressed firms and assisting banks A Critique Paper In Partial Fulfillment of The Requirements In MODADV1 Submitted by: Fernando‚ Anna Margarita B. Submitted to: Dr. Rodiel C. Ferrer Date September 28‚ 2011 I. Introduction The business world can be likened to a Pandora’s Box. It is filled to the brim with a cacophony of surprises‚ which can be either beneficial or
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Page 1 © 2013 KPMG‚ an Indian Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”) a Swiss entity All rights reserved KPMG FLASH NEWS KPMG IN INDIA New Companies Act‚ 2013 - Insight Series 23 August 2013 Vol-I : Compromise/Arrangements/Amalgamations/Demergers (Restructuring) Executive Summary The Companies Bill 2012 awaiting President’s assent to become ’The Companies Act‚2013’
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Directors’duties(dd): I.Duties of care and diligence:1whether is a director(d)?s9definesas:(a)appointed:(i)executive director(ii)alternative director(iii)non-executive director(iv)nominee director.(b) not validly appointed (i)they act in the position of a d (de facto d);(ii)d of coy or body are accustomed to act in accordance with the person’s instructions or wishes. (shadow d).2.duty of care and diligence:Assessing whether a breach has occurred:(i)were a reasonable d in the corp’s circumstances
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Art. 1817. Any stipulation against the liability laid down in the preceding article shall be void‚ except as among the partners. Stipulation eliminating liability. If there is a stipulation exempting any of the partners from liability to third persons‚ such stipulation is void as to third person but valid among the partners. Art. 1818. Every partner is an agent of the partnership for the purpose of its business‚ and the act of every partner‚ including the execution in the partnership name of
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LAW (PARTNERSHIP AND CORPORATION) GAMMAD‚ MARY JANE M. (Art. 1833-1836) ARTICLE 1833 Where the dissolution is caused bythe act‚ death or insolvency of partner‚ eachpartner is liable to his co-partners for his share of any liability created by any partner acting for thepartnership as if the partnership had not beendissolved unless: 1.)The dissolution being the act of anypartner‚ the partner acting for thepartnership had knowledge of thedissolution; or 2.)The dissolution being by the death orinsolvency
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Buzzle case summary Facts: This case concerned the collapse of a company that operated a number of retail stores that sold predominantly Apple products (authorised Apple resellers). The company (Buzzle) had been created as a result of numerous earlier companies merging their Apple reselling businesses into the new company. In order to achieve this Buzzle needed the approval of Apple to swap its existing supply contracts and credit contracts with the companies to new contracts with the merged entity
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