of a Chapter 7 bankruptcy are permanent discharge of unsecured debts‚ which means that as long as there are no properties attached to the debts‚ all debts will be wiped out. Automatic stay orders a protection from the court that will stop all creditors from contacting you. They are prohibited from all harassing threats‚ lawsuits‚ phone calls‚ judgments‚ repossessions‚ and garnishments. Keep exempt property is when people keep their property in a bankruptcy. For instance if you have household
Premium Bankruptcy Debt
2014 2013 £35‚000 £38‚000 Current Assets: These are goods or services used or owned by PPP within the year. PPP uses its current assets on a daily basis. PPP’s current assets include its stock and debtors. 2014 2013 £14‚810 £15‚750 Debtors: Debtors are people who owe PPP money. For PPP having debtors is good because it means it has
Premium Financial ratios Generally Accepted Accounting Principles Balance sheet
party B. Therefore an agreement exists. All of those components are necessary for a contract to exist. The type of contract that will be examined in this essay is one that is made between a Creditor (the party that lends out the money to the Debtor) and a Debtor (the party who borrows the money from the Creditor) It will also be examined how The Rule in Pinnel’s Case was an unfair rule and how the problem arising from the Rule in Pinnel’s Case was solved. The Rule in Pinnel’s Case states that payment
Premium Contract Law Common law
CHAPTER 4 Final Accounts Meaning Preparation of final account is the last stage of the accounting cycle. The basic objective of every concern maintaining the book of accounts is to find out the profit or loss in their business at the end of the year. Every businessman wishes to ascertain the financial position of his business firm as a whole during the particular period. In order to achieve the objectives for the firm‚ it is essential to prepare final accounts which include Manufacturing and
Premium Generally Accepted Accounting Principles Balance sheet
which has to be observed by the Debtor/Obligor) which the former may demand from him Juridical Necessity – in case of non-compliance the courts may call upon to enforce its fulfillment or‚ the economic value it represents. Damages – represents the SUM OF MONEY given as a compensation for the injury or harm suffered by the creditor/oblige for the violation of his rights. Creditor or Obligee – he who has the RIGHT TO THE PERFORMANCE of the Obligation. Debtor or Obligor – he who has the Obligation
Premium Law Pleading
UNIT 4 Sole Traders – Financial Statements Copyright 1995 by Thames Management Centre International. All right reserved. No part of this lecture notes may be reproduced in any form or by any means‚ without the permission in writing from Thames. * 4.1 Introduction At the end of the business financial year end‚ a set of financial statements will be prepared by the company for reporting to the owner of the business as well as for submission to the local tax authority. However‚ financial
Premium Balance sheet Generally Accepted Accounting Principles Income statement
OBLIGATIONS From latin words‚ obligatio/obligare – “to tie” or “to bind” Juridical necessity – enforceable to courts 1) CIVIL (positive) and Natural 2) REQUISITES OF OBLIGATION a) Active – creditor / obligee – has the right b) Passive – debtor / obligor – has the duty c) Prestation – object / subject matter c.i) Obligation to give (Real Obligation) (c.i.1) Determinate Thing – res perit domino – thing perishes with the owner (c.i.1.a) Standard care – diligence of a good father / if the
Free Law
Financial Ratio analysis – Suzlon Energy limited Introduction: It is a fascinating topic to study because it can teach us so much about account and business. When we use ration analysis we can know about how profitable a business is‚ we can tell if it has enough money to pay its bills and we can even tell whether its shareholders should be happy!! Ration analysis can also help us to check whether a business is doing better this year that it was last year; and it can tell us if our business is
Premium Financial ratios Financial ratio Balance sheet
Contents 9. APPENDIX A…………………………………………………………………..…………………………………….23 10. APPENDIX B……………………………………………………………………………………………………….26 1. INTRODUCTION Ratios are invaluable profit tools in financial analysis that can provide information on valuing a company. In this report‚ I am going to focus on the financial statement of the travel and tour operator company ‘TUI TRAVEL PLC’. I will start with the background of the company and I will move on to measuring the financial performance
Premium Generally Accepted Accounting Principles Financial ratios Asset
(2013) “Garnishments occur when a creditor is permitted to collect a debt by seeing property of the debtor (such as wages or funds in a bank account) that is being held by a third party (such as an employer or a bank). As a result of a garnishment proceeding‚ the debtor’s employer may be ordered by the court to turn over a portion of the debtor’s wages to pay the debt. In each state‚ the federal and state laws limit the amount that can be garnished from a debtors weekly pay that they take home. The
Premium Debt Civil procedure Debtor