Insolvency Trading Relevant Law

Question: Discuss about theInsolvency Tradingfor Relevant Law. Answer: Issue Jacob and Marie are accused of engaging in insolvency trade; which is against the 2001 Corporations Act. While analyzing this case, s588G and s588H will be relied on. This is because they identify the circumstances when a liquidator can bring a case against the directors of the company, accusing them of insolvency trading, and the possible defenses that the directors of the company can use to defend themselves. Therefore, in this case, Jacob and Marie have some grounds they can defend themselves, based on s588H of the Corporations Act. Relevant Law Section 588G of the 2001 Corporations Act provides identifies the obligations of the directors of a company towards avoiding insolvent trading[1]. Company directors may seek to trade within their companies despite being insolvent, with the belief that after a period of time, they will manage to transform the financial position of the company. The law requires financial directors to be fair in their financial dealings, and they must not incur debts when they are in the insolvency status. Through this position, the intention of the drafters of the corporation act was to protect creditors from unfair borrowing tactic that are used by the directors of the company. Furthermore, the directors of a company must act in good faith and not use their position for personal gain. For purposes of defending themselves, the directors of the company will rely on s588H. The law comprises of circumstances when the directors of the company can claim protection from the courts, against the application of s588G. s95A od the 2001 Act will provide information on the concept of solvency and insolvency. Application The directors of a company will breach s 588G of the company if the company incurs a debt at a time when the company was insolvent[2]. Furthermore, they will breach this section, if they are aware that the company is unable to pay their debts, but they are unable to prevent the company from acquiring debts. Additionally, an individual will be engaging in insolvency trading if they suspect that the company is insolvent or will become insolvent at the time of acquiring the debt. If the liquidator manages to proof these assertions, then he can successfully bring a case against Jacob and Marie. To understand the possible defenses that Jacob and Marie will have, there is a need of understanding this notion of solvency, in accordance to section 95 of the 2001 Corporations Act, and the criteria used in determining whether a company is solvent or not, in accordance to the various common law principles applied in Australia[3]. Section 95A (1) of the 2001 Corporations Act provides a definition of solvency. According to this act, a company is solvent when it has the ability to pay all its debts in a timely manner and when they are due. On the other hand, s 95A (2) denotes that when a company is not solvent, then it is classified as insolvent[4]. A company that is classified as insolvent does not have the capability of paying the debts that it owes to its creditors. Furthermore, in analyzing the capability of a business organization to pay its debts, the court will look at the position of the company on the day that the debt was incurred, and not at the time of paying the debt. Additionally, there are a number of conditions that an organization must meet for it to be declared insolvent. These conditions are established in the 2009 case of Sutherland v Hanson Construction Ltd[5]. Under this case law, it is the cash flow of the business organization that will determine the solvency status of an organization. However, it is important to note that the analysis of the balance sheet is not the only factor that can determine the insolvency of a business organization, in as much as it is an important factor to consider. This is a principle established in Sutherland v Eurolinx 2001 where the court made a ruling that reliance on the cash flow statement of a company cannot be used a single factor to determine the solvency of a business organization[6]. This is because companies that are solvent normally experience cash flow problems from time to time. Therefore, Jacob and Marie cannot successfully bring a defense on the solvency of their company based on the strengths of the organizations balance sheet. For instance, Jacob and Marie cannot claim that their company was solvent based on the fixed and non-fixed assets that were under their possession. However, the two can successfully carry out a defense if they can prove the conditions that are established in section 588H of the Corporations Act[7]. For instance, one of the possible defenses that Jacob and Marie can argue for is that they did not expect that the company would be insolvent at the time of incurring the debts. For instance, Jacob and Marie denote that Tania advised them that the company was solvent, and it had the capability of meeting its obligations and debts at the time the company was incurring the debts. The reason for this assertion is that the creditors of the company have been in agreement with the organization not to take any recovery process, only after they have issued a 30 day notice. Therefore, basing on the advice of their employee, Jacob and Marie were not suspicious of the insolvency status of their company. Additionally, s588H of the corporations act denotes that the directors of a company cannot be held liable for insolvent trading if they relied on the information from their subordinates, whom they believe that they are competent, reliable and responsible[8]. In the case of Jacob and Marie, Talia is their financial officer, and they employed her because of her competence, reliability and responsibility. Therefore, by relying on the information provided by Talia, the directors of the company can successfully bring a defense based on s588H of the 2001 Corporations Act. Conclusion Finally, while bringing a case against Jacob and Marie, the liquidator may denote that they engaged in insolvency trading, therefore breaching s588G of the 2001 Corporations Act. Some of the elements for a successful case against Jacob and Marie may include, if an individual is a director of the company, at the time the company was incurring debts and the company is insolvent. The liquidator must prove that there are reasonable grounds to believe that the company knew of the position of the company, but they failed to prevent the transaction. However, Jacob and Marie can argue that they were not suspicious of the insolvency status of the company, and they relied on the information from their subordinates while making a decision to engage in the trade. Bibliography Books, Journals and Articles Symon, Helen, Corporations Act 2001 (Leo Cussen Institute, 2006) Symes, Christopher Francis, The Justification And History Of Statutory Priorities In Australian Corporate Insolvency Law (2005) Case Laws and Statutes Corporations Act 2001 s95A Corporations Act 2001 s588G Corporations Act 2001 s588H Sutherland v Eurolinx (2001) 230 NSWSC (2001) Sutherland v Hanson Construction Materials Pty Ltd (2009) 232 NSWSC (2009) The New Corporations Act 2001 And Related Legislation (Butterworths, 2001)

Out Among The Stars by Johnny Cash free essay sample

Johnny Cash is way beyond one of music’s greatest stars. His fashion, presence and integrity made him the American legend that he still is to this day. At first,he was just J.R. Cash living in Arkansas. Then the Great Depression hit and devastated rural families like his own and much of America’s economy. The Cashes restored their farm and continued to work through complicated times. Later his older brother, Jack Cash, had died in a sawmill accident. This left J. R. Cash with a permanent pain. Music had then become his refuge. Nearly 60 years after his career officially began and twelve years after his own death, â€Å"The Man In Black† continues to â€Å"walk the line.† Johnny Cash has released yet another album. His son recently discovered the unheard studio album from a recording session in the 1980s. â€Å"Out Among The Stars† is like getting caught in a daydream. We will write a custom essay sample on Out Among The Stars by Johnny Cash or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The song is relatable because of the truth in the lyrics. He sings, â€Å"Travellers get weary. They have burdens and scars, and we think they’d love to start all over and fly like eagles out among the stars.† â€Å"I Came To Believe† shares an alike meaning. The boys both had problems and were used to making them worse. But when one of the boys asked the LORD for help, his problems slowly evaporated. He was given comfort, found easier ways, and hope for the essential delight of being alive. There’s undoubtedly going to be creativity whether he’s a singing a song about love, his home, church or even if he’s telling a story through that deep and somber voice of his. His only single on the â€Å"Out Among The Stars† album, â€Å"She Used To Love Me A Lot†, told a tale about two former lovers. Many years later he saw her and started thinking about their once before relationship. The man thought they could take up where they left o ff before. Opposite of his thoughts, the lady just turned around and walked away. Besides desertion, â€Å"Tennessee† is about a man who fell in love with a girl and found a home with her. They settled down and he ends up starry eyed with her. While on the contrary â€Å"Rock and Roll Shoes† is about trying to find ones self and not being defined by another. The man’s always on the road and he doesn’t ever have the desire to stop moving. A number of songs from Johnny Cash are basically a collection of his visions. His creativity is what pulls the listeners in and makes them comprehend his thoughts. Superior beliefs and the creativity of Johnny Cash himself, had granted him an opportunity to pursue a professional career out of what he had always believed in. He sang songs of his own and songs that had been composed by other people. But he also took his voice and collaborated with talented artists. There were three duets on this CD including two with his wi fe, June Carter, and another with Waylon Jennings. Any music Johnny Cash produces helps us to believe in the ability to be free and see past reality yet still understand the reality of life. John Carter Cash, Johnny’s son, had said, â€Å"When I heard these recordings for the first time in so many years what I immediately noticed was the joy in his voice?his spirit was soaring. I heard the vibrant joy. When these recordings were made he was as full of passion and love as any other time in his life?at a true prime. These recordings have never been heard before now. So listen for him and within you, find a true picture of who the man really was.† Johnny Cash remains a legend. Whenever you find yourself feeling any kind of emotion, put him on the radio, dust off your record player, or even an aged cassette tape. The icon’s voice is timeless and â€Å"Out Among The Stars† is the latest†¦ and quite possibly last album ever of Johnny Cash. He may be gone b ut if you listen closely he’s right alongside us. Eventually we’ll be able to meethim â€Å"out among the stars.† But for now his music’s the only tangible thing left of him.

Sample Terms For a Definition Essay

Sample Terms For a Definition EssayThe sample terms for a definition essay is ideal for students studying English language and composition. A good essay question will bring up specific definitions, which should be identified and displayed. The simple inclusion of these definitions makes the essay easier to understand.Students who take a writing test tend to hesitate when it comes to learning definitions and other jargon. When the answer of the questions seem to be complex or complicated, they tend to lose their focus and find it hard to learn from. Hence, an essay sample is a perfect tool for test takers to learn vocabulary quickly.One of the most important aspects that students should learn while they are learning a new language is the definition of words. It should always be included in any essay that involves the study of new words and meanings. For this reason, there are sample terms for a definition essay that are provided by different dictionaries. These will make your task eas y.Just after you know a particular definition, you can use the word the in a sentence that has been assigned to it. You can also include words such as being, being in a sentence or else. The word should be written in its correct spelling with the help of a dictionary definition. In this way, you can avoid using the word incorrectly.If you are short on time, you can find the word in the dictionary itself. Do not forget to check whether the word you are looking for is already included in the list of definitions. Some of the definitions may have changed or made obsolete and hence you should avoid using it. This will save you time and energy for another definition.There are some words that are often used incorrectly. Some of them should never be used when writing an essay. These are offensive words such as nasty, evil, & filth. These can cause a lot of damage to the overall purpose of the essay. Using such words can seriously impact the overall score of your essay.Another common term th at is sometimes used incorrectly is Nick. It is the shortened form of the word young. It can cause a great deal of offence, especially if it is not clearly stated.There are many types of essay samples for a definition essay. Choose one that you like the most and start working on it. You can edit it according to your requirements. After writing an essay, it is always better to do some editing for it to look its best.

Scutellosaurus - Facts and Figures

Scutellosaurus - Facts and Figures Name: Scutellosaurus (Greek for little shield lizard); pronounced SKOO-tell-oh-SORE-us Habitat: Woodlands of southern North America Historical Period: Early Jurassic (200-195 million years ago) Size and Weight: About four feet long and 25 pounds Diet: Plants Distinguishing Characteristics: Small size; long tail; bony studs on back About Scutellosaurus One of the persistent themes of evolution is that large, imposing creatures descend from small, mouselike progenitors. Although no one would think of comparing Scutellosaurus to a mouse (it weighed about 25 pounds, for instance, and was covered with bony spikes), this dinosaur was certainly rodent-sized compared to its multi-ton armored descendants of the late Cretaceous period, such as Ankylosaurus and Euoplocephalus. Although its hind limbs were longer than its forelimbs, paleontologists believe Scutellosaurus was ambidextrous, posture-wise: it probably stayed on all fours while eating, but was capable of breaking into a two-legged gait when escaping predators. Like other early dinosaurs, Scutellosaurus was anatomically very similar to the prosauropods and small theropods that roamed the earth during the late Triassic and early Jurassic periods.

19th Century Rural New England Family Essay Example for Free

19th Century Rural New England Family Essay ? 19th Century rural New England family was a protrusion of slave-master relationship that affected all facets of American socio-cultural life. The narrative of Frederick Douglass describe that interracial relationships between a slave woman and male master were common but these relationships never got any social or religious sanctity. Douglass portrayal of his mother clearly indicates the relationship with her master provided no solace to him but rather aggravated her pathos and miseries. It further manifest that such relationships were not based on any mutual warmth but were a manifestation of ‘gratification of their (masters) wicked desires profitable as well as pleasurable†. (p. 166) The slave child, production of this relationship, was not entitled to any privileges or rights, socially or legally. So it was quite likely that â€Å"the children of slave women shall in all cases follow the conditions of their mothers† (p. 167) These slave children were also deprived of maternal affection as â€Å"it [was] a common custom, in the part of Maryland†¦, to part children from their mothers at a very early age. Frequently, before the child [had] reached its twelfth month, its mothers is taken from it, and hired out on some farm a considerable distance off†¦ (p. 165) The mother-children relations were cordial but they were not allowed to meet quite often as Douglass himself saw his mother five or six times during her lifetime. The relationship never developed as there was very little communication between mothers and their children. These children were also kept ignorant of their birthdates and parentage. They were also shorn of basic necessities of life like clothing, lodging and nutrition. Furthermore, these slave-children were subjected to amplified hardship as compared with other slaves because they were â€Å"a constant offence to their mistress†. This also highlights that 19th century rural family of New England was not solely patriarchal but women had immense influence in the affair of household. For example, Douglass writes, â€Å"The master is frequently compelled to sell this class of his slaves, out of deference to the feeling of his white wife. †(p. 166) Similarly, relationship with other member of his parental family were used to be harsh and they were used to undergo harsh treatment and whipping by their white brothers quite frequently. There was no intimacy between slave brothers and sisters and their mutual relationship never developed due the absence of a central tie i. e. parentage. On the other hand, it is illustrated that the role of slave woman in the community were limited to heavy toil and labor at plantations, fulfillment of master’s lusts and sexual desires whenever needed. Their emotional, psychological and mental health was never taken into consideration. The relations of these slave girls and slave children to the community were totally utilitarian and totalitarian as they were used as tool to increase the agricultural production and to satisfy the savage desires and habitual formations of the masters respectively. These slaves were regarded as an entity that was included in their (master’s) property rights and were sanctioned by socio-legal system. So in the wide social perspective, slaves acted as economic instruments and this subordination was characterized not only by commercial necessities but also by psychological phenomenon i. e. to satisfy the human propensities by subjecting them harsh punishments. 19th Century Rural New England Family. (2016, Dec 05).

Ralph K. Andrist's The Long Death Essay Example | Topics and Well Written Essays - 1250 words

Ralph K. Andrist's The Long Death - Essay Example achinery, the railroad, concepts of private property, and the capitalist economic system all served to further isolate the Indians both geographically and economically. By 1864, the Native territory had been shrunk and was on a path to the coming reservation system that would be the death knell for the Indian culture and way of life. The violence that began at Sand Creek in 1864 culminated in the 1890 Wounded Knee massacre and signaled the passing of the great North American Indian civilizations. While the violence against the Native Americans did not begin at Sand Creek in 1864, it was the most egregious violation of human rights that had been perpetrated on the Indians to that date. In the early morning hours of November 29, 1864 US soldiers from the Colorado Territory militia and cavalry brutally attacked a Cheyenne settlement that was occupied by some 700 unarmed inhabitants, mostly women and children (Andrist 91). The Indians had been isolated on a small tract of land to make their territory available to the Gold Rush. Estimates vary on the number killed, but may have been as high as 500 fatalities. This was a peaceful village that had been led to believe that they were under the protection of the Army. In the summer of 1864 John Evans, Governor of Colorado, issued a proclamation of safety for all Plains Indians that demonstrated their peaceful intentions by placing themselves in the custody of the Army (Keenan 104). The Indians were told to fly an American flag as a sh ow of their loyalty as a means of protection. However, the American flag and a subsequent white flag both went unheeded as the troops attacked. The commanding officer at Sand Creek, Colonel Chivington, ordered the attack and was personally responsible for the degree of brutality exhibited. Prior to the onslaught Colonel Chivington "believed it to be right and honorable to use any means under Gods heaven to kill Indians that would kill women and children and damn any man that was in sympathy

Political Issue Essay Example | Topics and Well Written Essays - 1000 words

Political Issue - Essay Example Because of the Cold War period and the uncertainties it brought to the American citizens, the administrations supposed it was essential to stiffen down and take control (Hoffman, 2012). To do this, they called for more controls to the executive subdivision. The political ideology of the Americans vary on the classical liberalism; consequently, the ideas in most cases are alike. For instance, a bigger population of the United States believes in limited government, the perfect market, and individual freedom. On particular occasions, the two major political parties in the United States tend to have a controversial opinion from one another whereby one tend to lean to the right while the other lean to the left. There can also be a case in which the issues emanate in a particular party, for instance, the Democrat party having the problem amongst its members. In America, political scientist organizes the political ideologies with respect to how they affect the political government in the country. The liberalism and the conservatives always represent the two ends of the political situations in America. American liberalism posits that the state is supposed to act so as to bring the equality amongst the citizens. Traditionally, the liberal clust er has been working towards the civil rights of the Americans and the minority group. Conservatives have always come out stronger in defending the government than the liberalism. However, in the late twentieth-century liberalism and conservatism in strengthening the military status of American and more often than not, they got involved in the war. For instance in 1960s, the American president, John F. Kennedy increased the spending so as to strengthen the security while Lyndon Johnson on the other side of the ideology played a significant role in Vietnam War. The American conservatism contends that the primary duty of the