christian herpes online dating - To liquidating

In Australia, the definition of liquidated damages applies to the situations where upon the failure of a primary stipulation, imposes a detriment to the first party or a benefit to the second party by a secondary stipulation collateral to the primary stipulation (i.e. UK bank and credit card customers were being charged as much as £39 for a single transaction that took them over their credit limit.

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In 2009 the Supreme Court ruled (see Office of Fair Trading v Abbey National plc) that terms in bank account contracts were not capable of being penal, bar those applicable to Nat West Bank customers between 20.

The court ruled that the charges were a charge for a service, and not a penalty for damages for breaching a contract term.

If there are insufficient funds to pay all creditors (INSOLVENCY), preferential creditors are paid first (for example the INLAND REVENUE for tax due), then ordinary creditors pro rata.

If there is a surplus after payment of all creditors this is distributed pro rata amongst the ordinary shareholders of the company. the process by which a JOINT-STOCK COMPANY's existence as a legal entity ceases by ‘winding up’ the company.

The amount received by the assessee towards compensation for seterilization of the profit earning source is not in the ordinary course of business.

Hence, it is a capital receipt in the hands of the assessee.

The firm's stock was trading over the counter for 2¢ per share at the time of the announcement.

the process by which a JOINT-STOCK COMPANY' S existence as a legal entity ceases by the winding-up of the company Such a process can be initiated at the behest of the CREDITORS where the company is insolvent (a compulsory winding-up), or by the company directors or SHAREHOLDERS, in which case it is known as a voluntary winding-up.

The person appointed as liquidator, either by the company directors/shareholders or by the creditors, sells off the company's ASSETS for as much as they will realize.

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