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Forster V Wilson
''Forster v Wilson'' (1843) 152 ER 1165 is a UK insolvency law and English property law case, concerning the right to set off a debt against an insolvent company. It establishes that a person with a right to set off is not subject to the pooling of assets in insolvent liquidation. Facts Mr Wilson (among others) was in debt to a group of bankers that had gone bankrupt (the company was Batson & Co). Mr Forster had been assigned by this group the right to sue to get the debt back. Mr Wilson had been given £5 notes, issued by the bank, by some of his customers in his own business. Mr Wilson had also received other £5 notes, for which they were to pay so much only as they should receive from the assignees for such notes. The question was whether Mr Wilson could set off the amounts in the £5 notes against the debts he owed to the bank. Judgment Parke B held that Mr Wilson (and the other defendants) had a beneficial interest in the first type of notes, and were therefore entitle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualification Act 1986, the Employment Rig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Property Law
English property law refers to the law of acquisition, sharing and protection of valuable assets in England and Wales. While part of the United Kingdom, many elements of Scots property law are different. In England, property law encompasses four main topics: *English land law, or the law of "real property" *English trusts law * English personal property law *United Kingdom intellectual property law Property in land is the domain of the law of real property. The law of personal property is particularly important for commercial law and insolvency. Trusts affect everything in English property law. Intellectual property is also an important branch of the law of property. For unregistered land see Unregistered land in English law. Real property *Statute of Quia Emptores 1290 *'' R v Earl of Northumberland'' (1568), known as the ''Case of mines'' *Law of Property Act 1925, Land Registration Act 1925 (see also, Land Registration Act 1862) *Land Registration Act 2002 and HM Land Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvent Debtors Relief (No
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Set-off Act 1734
{{disambiguation ...
Set-off may refer to: * Set-off (architecture), horizontal line shown on a floorplan indicating a reduced wall thickness, and consequently the part of the thicker portion appears projecting before the thinner * Set-off (law), reduction of a claim by deducting the amount of a valid countervailing claim * Set-off (printing), ink passing from one printed sheet to another because the ink has not had the chance to dry, which causes the sheets of paper to stick together See also * Offset (other) Offset or Off-Set may refer to: Arts, entertainment, and media * "Off-Set", a song by T.I. and Young Thug from the '' Furious 7: Original Motion Picture Soundtrack'' * ''Offset'' (EP), a 2018 EP by singer Kim Chung-ha * ''Offset'' (film), a 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
8 Geo
8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of the form , being an integer greater than 1. * the first number which is neither prime nor semiprime. * the base of the octal number system, which is mostly used with computers. In octal, one digit represents three bits. In modern computers, a byte is a grouping of eight bits, also called an octet. * a Fibonacci number, being plus . The next Fibonacci number is . 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. * the only nonzero perfect power that is one less than another perfect power, by Mihăilescu's Theorem. * the order of the smallest non-abelian group all of whose subgroups are normal. * the dimension of the octonions and is the highest possible dimension of a normed division algebra. * the first num ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1705
The Bankruptcy Act 1705 ( 4 & 5 Ann. c. 4) was an Act of Parliament of England. Content Under the Act, the Lord Chancellor was given power to discharge bankrupts, once disclosure of all assets and various procedures had been fulfilled. Discharge from debt was introduced for those who cooperated with creditors. The discharge took effect once a bankrupt obtained a certificate of the bankruptcy commissioners providing that there has been full disclosure and adherence to their directions. See also *UK insolvency law *UK bankruptcy law *History of bankruptcy law Notes {{UK legislation Insolvency law of the United Kingdom English laws Acts of the Parliament of England 1705 in law 1700s in British law 1705 in England ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
4 & 5 Ann
4 (four) is a number, numeral and digit. It is the natural number following 3 and preceding 5. It is the smallest semiprime and composite number, and is considered unlucky in many East Asian cultures. In mathematics Four is the smallest composite number, its proper divisors being and . Four is the sum and product of two with itself: 2 + 2 = 4 = 2 x 2, the only number b such that a + a = b = a x a, which also makes four the smallest squared prime number p^. In Knuth's up-arrow notation, , and so forth, for any number of up arrows. By consequence, four is the only square one more than a prime number, specifically three. The sum of the first four prime numbers two + three + five + seven is the only sum of four consecutive prime numbers that yields an odd prime number, seventeen, which is the fourth super-prime. Four lies between the first proper pair of twin primes, three and five, which are the first two Fermat primes, like seventeen, which is the third. On the other hand, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
5 Geo
5 (five) is a number, numeral and digit. It is the natural number, and cardinal number, following 4 and preceding 6, and is a prime number. It has attained significance throughout history in part because typical humans have five digits on each hand. In mathematics 5 is the third smallest prime number, and the second super-prime. It is the first safe prime, the first good prime, the first balanced prime, and the first of three known Wilson primes. Five is the second Fermat prime and the third Mersenne prime exponent, as well as the third Catalan number, and the third Sophie Germain prime. Notably, 5 is equal to the sum of the ''only'' consecutive primes, 2 + 3, and is the only number that is part of more than one pair of twin primes, ( 3, 5) and (5, 7). It is also a sexy prime with the fifth prime number and first prime repunit, 11. Five is the third factorial prime, an alternating factorial, and an Eisenstein prime with no imaginary part and real part of the form 3p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1825
The Act 6 Geo 4 c 16, sometimes called the Bankruptcy Act 1825, the Bankrupt Act, the Bankrupts Act 1825 or the Bankrupts England Act 1825, was an Act of the Parliament of the United Kingdom. It was repealed by section 1 of, and Schedule A to, the Bankrupt Law Consolidation Act 1849 (12 & 13 Vict c 106). It was repealed for the Republic of Ireland by section 2(1) and 3 of, and Part 4 of Schedule 2 to, the Statute Law Revision Act 2007. The Act allowed people to start proceedings for their own bankruptcy. Before this, only creditors could start the proceedings. See also *UK insolvency law *UK bankruptcy law *History of bankruptcy law The history of bankruptcy law begins with the first legal remedies available for recovery of debts. Bankruptcy is the legal status of a legal person unable to repay debts. Ancient world In Ancient Greece, bankruptcy did not exist. If a man owed ... Notes and references *The Statutes of the United Kingdom of Great Britain and Ireland, 6 George ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
6 Geo
6 (six) is the natural number following 5 and preceding 7. It is a composite number and the smallest perfect number. In mathematics Six is the smallest positive integer which is neither a square number nor a prime number; it is the second smallest composite number, behind 4; its proper divisors are , and . Since 6 equals the sum of its proper divisors, it is a perfect number; 6 is the smallest of the perfect numbers. It is also the smallest Granville number, or \mathcal-perfect number. As a perfect number: *6 is related to the Mersenne prime 3, since . (The next perfect number is 28.) *6 is the only even perfect number that is not the sum of successive odd cubes. *6 is the root of the 6-aliquot tree, and is itself the aliquot sum of only one other number; the square number, . Six is the only number that is both the sum and the product of three consecutive positive numbers. Unrelated to 6's being a perfect number, a Golomb ruler of length 6 is a "perfect ruler". Six is a con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
