Question
According to below mentioned situations, who gets paid off first and the reason . Situation 1: Fixed charge created first on jan 1 and another
According to below mentioned situations, who gets paid off first and the reason.
Situation 1: Fixed charge created first on jan 1 and another Fixed charge created in Mar 31.
Situation 2: Fixed charge created first and later Floating charge created.
Situation 3: Floating charge created first and fixed charge created later.
Situation 4: Fixed charge created first and later Floating charge created --> later the floating charge crystalize because of breach of agreement.
Situation 5: Floating charge created first and later Fixed charge created --> later the floating charge crystalize because of breach of agreement.
Situation 6: Floating charge created first and fixed charge created later --> Later there is a Insolvency.
Situation 7: Fixed charge created first and later Floating charge created --> Later there is a Insolvency.
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Family Law
Authors: Jonathan Herring
10th Edition
1292343257, 978-1292343259
