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8 Cards in this Set
- Front
- Back
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Re Wiltshire Iron Co ex parte Pearson
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1)Dispositions can be validated by the court - failure to do so would mean an petition would paralyse a company.
2)Necessary prevision to prevent improper alienation of property in run up to order being made. |
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Re Flint
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Disposition takes a very wide meaning, including even involuntary disposition i.e. court ordered
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Re J Leslie Engineering
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May be in/direct by Co or 3rd Party
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Re Barn Crown
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Payment of cheque into an account in credit NOT D
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Re Grays Inn
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1)Payment into account that is overdrawn IS D - Confirmed in Re Tain Construction
2) Factors affecting validation: Good faith in ordinary course of business Awareness of petition 1+2 = valid UNLESS preferece |
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Re Tain Construction
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Confirmed Re Grays Inn - Payment into account that is overdrawn IS D
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Hollicourt v Bank of Ireland
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Payment of a cheque out of an account in credit IS D but ONLY to the payee of the cheque, not the bank (agent)
If account overdrawn NOT D (cheque or cash) |
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Denny v John Judson
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Example of case where disposition was necessary to continue trading/good faith/ and co was unaware of petition therefor VALIDATED
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