(6)Discharge by Agreement or Consent The contract rests on the agreement of the parties. The parties may get discharged from the obligations of performance of contract by agreement or mutual consent. By Agreement or Consent • By novation • By “accord and satisfaction” • By remission and waiver The discharge by consent may be express or implied. Discharge by consent:- (a)Novation: When a new contract is substituted for an existing one‚ either between the same parties or between the one of
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The procedure for creditor’s voluntary winding up: i) A board meeting convene by the company’s directors to decide on the date of the EGM and creditor’s meeting. These meeting must be held within one month from the date of statutory declaration (Form 65A) ii) The directors make a statutory declaration of Form 65 (statutory declaration of inability of company to continue business and that meetings of the company and its creditors have been summoned) and lodged with the CCM. iii) The Company’s director
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COMMISSION ON AUDIT CIRCULAR NO. 97-002 February 10‚ 1997 TO : All Heads of Departments‚ Bureaus‚ Offices‚ Agencies and Instrumentalities of the National Government‚ Heads of Local Government Units‚ Managing Heads of Government-Owned Or Controlled Corporations‚ including their Subsidiaries‚ COA Directors‚ COA Auditors‚ and All Others Concerned. SUBJECT : Restatement with amendments of the rules and regulations on the granting‚ utilization and liquidation of cash advances provided for under COA
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Hong Kong Institute of Vocational Education Corporate Law and Practice (ACC4106) 2014-2015 Continuous Assessment Assignment Task: Company Law in Practice Understanding a listed company in Hong Kong Class: BA124001/2B Name: Chan Choi Nog (130257408) Chan Yin Ting () Chu Tsz Ting (130153619) Lai Ka Fai () Siu Lok Man (130240174) Q2 (a) Firstly‚ GLL can issue share to raise fund. The company can have private placing to issue share. It can negotiate with individuals who have prior approval
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Case List – BUSL301 The following list is a guide only – the cases that are most likely to be mentioned in lectures are bolded – most of the cases in this list (or other cases that may be mentioned) will be referred to in one or both of your texts – it is very likely that in the normal course of your reading you will come across these cases – note that cases not on this list‚ particularly relevant recent cases‚ may also be discussed in class – how to use cases and what is expected of students in
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UNIVERSITY OF LAGOS SCHOOL OF POST GRADUATE STUDIES LLM PROGRAM SEMINAR PAPER IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE GRANT OF LLM DEGREE COURSE: SECURED CREDIT TRANSACTION TOPIC: FLOATING CHARGE AS A MEANS OF SECURITY IN CORPORATE FINANCE MEMBERS ODO Ifeoma Matric. No. 109061033 ARINOLA Abisola Ajoke Matric. No. 109061098 AWAJI Cecilia Matric No. 109061026 FALADE Olaronke Matric. No. 099061090
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Chapter 4: MODES OF EXTINGUISHING OBLIGATIONS a) By payment or performance b) Loss of the thing due c) Condonation or remission of the debt d) Confusion or merger e) Compensation f) Novation In addition: g) Annulment h) Rescission i) Fulfillment of a resolutory condition j) Prescription k) Death of a party in case the obligation is personal l) Mutual desistance m) Compromise n) Impossibility of fulfillment o) Happening of fortuitous events PAYMENT or PERFORMANCE
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WorldCom was one of the leading telecommunication companies prior to its application for bankruptcy protection on July 21st‚ 2002. The firm’s decision to file for bankruptcy was a shocker move considering the amount of revenues and asset base the company had. It is believed that the firm was highly involved in fraudulent bookkeeping between the year 1999 and 2000 where they had managed to overstate its taxable income by at least $7 billion. It was also revealed that the company had committed itself
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is in a real credit crisis. His creditors are calling him threatening lawsuits‚ garnishments‚ and other unpleasant things. One of his friends at work said that he should file bankruptcy. He comes to you for advice from a Christian perspective. In particular‚ he wants to know: 1. Does the Bible forbid him to file bankruptcy? 2. Does the Bible forbid borrowing altogether? If not‚ when is it permissible to borrow money? Use the words "Forbids" or "Does not Forbid" in the subject line of your discussion
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This case study is extracted mainly from two major novels titled “What went wrong at Enron” by Fusaro P.C. and Miller R.M. and “The unshredded truth from an Enron insider” by Brian Cruver. The Vision Called Enron The history of Enron goes back to the 1920’s‚ when a pair of Houston pipeline companies was incorporated to carry gas along the coast of the Gulf of Mexico. In 1956 these companies merged under the name of Houston natural Gas (HNG). While these companies were working along the coast
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