Essays on Debtor

CHAPTER II

This chapter will seek to conduct an absolute inquiry into what makes up security interest laws in the United States. In order to lay the foundation for comparisons in subsequent chapters, the three main elements of the study of the Saudi system will be reviewed here in the context of U.S laws with an emphasis on California state law. The features of the California legal system will include the assessment of foreclosure rules and patterns in California. This will include a detailed fact-based evaluation of CCP580 (b), CCP580 (d) and CCP726 (a). The different components will enable the study ...

A steward is a person, who manages their wealth and other possessions wisely. God is the owner of all things on earth and ewe should respect him as the overall proprietor. A Christian can practice sound financial stewardship in various ways, according to the will of God. The paper covers ways in which a Christian can practice stewardship based on scriptures. It includes how various people interpret different scriptures. Lastly, the paper includes the lessons learned from the scriptures, which will be summarized into several basic stewardship principles.

Scriptures discussing ways of practicing stewardship

Stewardship can be practiced by giving or tithing faithfully to God ...

About the report

The objective of this report is to assist One-World Investment Consortium, who is planning to invest £150 million in Thomas Cook PLC, a British global travel company listed on the London Stock Exchange under the ticker sign of ‘TCG’. We duly understand the impact of our professional recommendation on Consortium’s final decision making related to investment, and therefore, we intend to be comprehensive in the approach our analysis. As for the structure of this report, it will be a two-part report. In the first section of the report, we will evaluate the past 5 year(2007-2011) financial performance ...

Time and again, the history of consumer debt in the United States has been given the time and attention of many researchers although not too many have looked into the state of personal debts in the country and its evolution. In his book, Louis Hyman attempts to resolve this case, looking back into the personal credit of the Americans for the past 200 years. Hyman checks the four connecting themes: the many that consumers make their purchases, the institutions that grant personal loans, the government’s role in personal financing, and the development of technology that has paved the ...

Describe civil and criminal penalties that might arise from Ima’s death

Under the provisions of the Occupational Health and Safety Act (OSHA) 1970, all employers are responsible for creating adequately safe working environment (Pinnington, Macklin & Campbell, 2007). The possibilities of employee contact with uninsulated wire is a situation, when life of this employee becomes jeopardized, as well as there is a possibility of getting serious bodily damages. In this case, the affected employee, or the family members are entitled to claiming general damages from the employee. Furthermore, because the omissions of Walexron are conspicuously blatant (uninsulated wire obviously poses a huge hazard to the employee and visitors of the facility) ...

How to Reform Corporate Ethics in American Business Today

Corporate ethics is an important sphere of American business the regulation of which is of utter importance. It comprises the rules how the company operates: its management, control and responsibility for improper actions. The regulations of corporate governance and implementation of effective corporate ethical standards affect the situation of the economy of the state. Inefficient regulations may lead to huge problems, such as the Great Depression of 1933, ENRON case of 2007, global financial crisis of 2008, because of which the whole world economy was negatively affected, a lot of investors were defrauded, money stolen and etc. Scholars believed ...

Dear Texas Bob,

The calculations made were based on formulas we deem fit. In obtaining the income, we used the cash flow method, which is simply the difference between the cash that flows in versus the cash that flows out of the business. That method would prove to be more accurate since in the retail food industry, cash is considered king. Likewise, we discounted the values using the present value formula. We deem it important that the time value of money shall be considered to accurately reflect the amounts, not in a nominal sense, but in its real sense. Lastly, we also ...

Question and Answers

Chapter 8 Question 1 Comparative advantage is the ability of a person, firm or country to produce a good at a lower price than the market competitors. This enables the producer to sell the goods at a lower price than its rivals, all the while making a more profit.

Question 2

Question 3 Laypeople tend to think that trade is mostly about goods whereas economists consider many other factors Gains are often stealth for economists Economists view trade as having distributional effects. Economists consider opportunity cost as being relative unlike laypeople Question 4 Trade affects the distribution of income by widening ...

Increasing Abuse of Bankruptcy in Florida

Introduction Bankruptcy is very popular throughout the current economy. The number of individuals who are filing Chapter 7 bankruptcy increases every year. In January of 2007, 1,382 individuals filed for Chapter 7 bankruptcy throughout the state of Florida. In June of 2013, 4,176 individuals filed for Chapter 7 bankruptcy in Florida (Bankruptcy Information, 2016). This has a lot to do with the amount of advertising that bankruptcy lawyers are doing in order to attract more customers to their firm. Not only does their advertising encourage traffic to their law firm, it also gives the lawyer the opportunity ...

Re: Advantages and disadvantages of using forward contracts and options in foreign currency hedging

A forward contract is an agreement between the seller and buyer requiring the delivery of a particular currency at a specified exchange rate at a future date. Under this contract, both parties are obliged to deliver and buy a currency at the specified rate at the maturity of the contract (Hoyle, Schaefer & Doupnik, 2009). The forward exchange rate is determined by looking at the interest rate differentials between the two currencies. It is beneficial to use a forward contract since it locks up the exchange rate. At the date of maturity, both parties must deliver and buy the currencies ...

Introduction

There are many important works in Christian history and are well worth the time to read and digest them. This paper focuses on an excellent contemporary of Christ Himself, the apostle Paul. Paul is one of the most prolific writers of the time and one who chooses to give his readers a vivid and wholesome account of Christ and His love for us. Research into the writings of Paul helps the reader to understand the method of communication that Paul used. Since the writings of Paul are mostly in a letter format, it is worth investigating in the context ...

Creditors’ Rights and Collection Option

The first attempts by many creditors during debt collection never involve the courts. Creditors can directly contact debtors and demand payment. Failure to this attempt, the creditor has the right to transfer the account of the debtor to another business having the primary focus on collecting debts (Sorell, p. 77-81).

Debtors’ rights

The failure of not paying a debt is not a crime in general context even though it breaks agreements or contracts between debtors and creditors but failing to pay certain court-ordered debts like child support can cause criminal charges. Apart from some bankruptcy situations, debtors will have the choice ...

MONITOR AND CONTROL FINANCES

Budget variation report The budget variation report (on Excel) indicates both favourable and adverse variances in revenue and cost items. The full year’s sales are 3% less than the budgeted amount. Greater variations were seen in quarters 1 and 4 when the actual sales were 20% less than the budgeted sales. Quarters 2 and 3 saw an improved performance with favourable variances of 20% and 7% respectively. There were no variations in direct wages since they are based on contracts between the employees and the company. The favourable variance in commission expenses was due to the variance in ...

The objective with which the report is being prepared is the financial analysis of the books of accounts and the ratios of Specialty Fashion Group, which has been listed in the Stock Exchange as a fashion house in Australia. The attempt made will be examination of necessary ratios that explain all kinds of profitability, efficiency, long term solvency, short-term solvency and the returns on shareholder’s investments (Accountingedu.org, 2016). A comparative analysis is to be made between ratios of different years to understand the rising trends and to track performance indicators. The conclusion should then bring out whether there ...

The scenario raises issues dealing primarily with consideration and variation of a contractual agreement. The issues arising are primarily two; the validity of variation of terms made between Kitchens for You Ltd (KFY) and Lizzie Tyler and the enforceability of the original agreement arrived at by Kitchens for You Ltd (KFY) and Lizzie Tyler. Firstly, KFY and Lizzie Tyler have a valid contract that is enforceable under which KFY agreed to refurbish the kitchen and seating area, to cope with the increased orders from the café/seating area and the takeaway counter for a total cost of £32,370. ...

Introduction

Using the above definition of amortization, the thesis statement for this research paper can be defined (Nellen et al. 37). It will be based on investigating how buying a car involving a bank can be beneficial or disadvantageous based on acquiring a loan and how it will be repaid by taking a real life example. Moreover, a real bank shall be chosen with an arbitrary rate which the bank shall judge a debtor. In so doing, an analysis of numbers shall be computed to illustrate more on which decision to draw concerning taking a loan for the car.

Discussion

Consider an individual called Steve. His aim is ...

Introduction

Question 1

The governments contented that its claim for Atlantic Trading Company income taxes ,was claimed to be entitled to first priority rule as an administrative expense instead of the unsecured tax claim since the said taxes of the state were not just any tax but tax specified in the 507(a)(7)(A)(iii) pursuant to 503 (b) (1)(B)(i). The government failed to file the immediate proof of the claim. Since the company made profits in which it was to remit some percentage to the government, the government was not supposed to make administrative expenses on the company. The ...

The insolvency law has always held much interest in the people all around the world. The Cork report of 1982 greatly improved the insolvency law along with various other statutes that regard insolvency and bankruptcy. The Cork report originates from Kenneth Cork, who served at the cork committee that was responsible for making law recommendations regarding insolvency, bankruptcy, and liquidation of wealth. They formulated a comprehensive procedure that finally harmonized the law procedures for bankrupt businesses and increased their chances of survival (CAMAC 2010). The legal procedure recommended by Cork accentuated upon the similar system of insolvency courts to administer ...

Bankruptcy is a state where a business or person is unable to pay their debts. There are benefits that an individual gets from filing a bankruptcy like the possible discharge of certain debts. They also include cushion from harassments over debt collection and more time to prevent foreclosure proceedings. On the other hand, it might have some negative effects including the effects on debtor's credit rating, liquidation of property and the problem of securing loans or credit card. The elements of bankruptcy clearly defined under chapter 7, 11 and 13 (Keenan & Riches, 2007).

The bankruptcy in chapter 7 is where ...

1. What are the elements of Bankruptcy under Chapter 7, Chapter 11, and Chapter 13? Identify the key differences. Provide an example for each.

The elements of bankruptcy specified in Chapter 7 have to do with the sale of a debtor's property in order to pay off debts. Put simply, the debtor sells of non-exempt holdings to pay creditors. The elements of bankruptcy specified in Chapter 11 on the other hand, have to do with the reorganization of the organization. Put simply, the debtor files for bankruptcy which in turn allows him to continue with the organization and pay off creditors over a period of time. Lastly, the elements of bankruptcy mentioned in Chapter 13 involve bankruptcy protection. Under this law, the debtor has ...

Abstract

The U.S. Constitution allows debtors to lift the burden of debt - in whole or in part, if the debtor can no longer meet its obligations to creditors. For consumers there are two main types of bankruptcy. Chapter 7 of the Bankruptcy Code allows you to perform their obligations to creditors "in one go", and Chapter 13 presumes the debtor payment plan. Sometimes, the personal bankruptcy process can be carried out by using Chapter 11.

Chapter 7

This part of the U.S. bankruptcy law allows you to get rid of all or part of the debt after the repayment of ...

Starting a successful business is a goal of several people around the world. There are various elements that a person should consider when starting any business. A sole proprietor has various advantages, for instance, a person gets full control of the business including the decision-making process, one enjoys all the profits realized from the business, and there is ease in formation of the business. A computer business requires the owner to be passionate and knowledgeable due to the several challenges involved. The disadvantages of sole proprietorship include unlimited liability, the limited experience, difficulty in accessing long-term financing, and limited startup capital. Some of ...

Criminal Law

1. Parol evidence rule refers to the evidence of previous or simultaneous oral rule that written contracts may not be varied, contradicted, or changed by any previous or contemporaneous oral declarations. Parol evidence is admitted when a written contract does not include or contradicts the oral understanding reached by the parties. Under the parole evidence rule, when the court finds that that written contract has represented the final and complete statement of the parties to an agreement, it will no longer allow either party to submit parole evidence (Miller, 2011, p.187).

2. The statute of frauds refers to the requirement ...

The cost which the organization incurs the production and acquisition of products and services which it intends to sell is very important. The pricing strategy of the organization is significantly affected by costs. Therefore, costs designed to tackle the challenges of the economic and the noneconomic factors very efficiently. The objective of the costing models is to categorize the factors of the marketing objectives of the company and the mission of the company (Gitman, 2003).

Accurately determination of cost is important in organization to remain profitable. Costing does not only require including direct and indirect cost associated with business ...

Executive summary

Royal Dutch Shell PLC commonly known as the shell is second largest energy company in the world whose registered office is in London. It is oil and Gas Company operating in various parts of the world; to stay relevant to climatic and environmental changes it engages in both renewable and non renewable energy. In addition, it is a vertically integrated oil company which engages in all oil activities from exploration to refining and marketing. Apart from its core activities, it has entered into partnership with various international organizations to preserve the environment. The company shares are listed in London stock ...

History

Slavery in Ancient Rome The main source of slaves in ancient Rome was the capture of prisoners. Namely, the captive foreigners constituted the overwhelming majority of slaves in ancient Rome, as evidenced by the analysis of numerous written sources, in particular, gravestone inscriptions. For example, as pointed out by the famous French historian S. Nikole, most slaves in Sicily at the end of the II. BC. e. (when slavery on the island reached the largest scale) were born in Asia, Syria, and Greece, which were captured by Rome before. For them, the slave was associated with the ...

Management 325

There are many figures and variables that investors take into consideration whenever they conduct their due diligence or research. Some of the most common metrics that new investors use in the field include but may not be limited to return on investment, price to earnings ratio, earnings per share, earnings per share growth, among others. Those who have a more solid background in economics, accounting, and actuarial sciences make use of more complex valuation methods. One of the best metrics to use is the internal rate of return (IRR). A company or a security’s internal rate of return pertains ...

Lawrence v. Fox. Citation: 20 N.Y. 268; 1859 N.Y. LEXIS 192

Facts

The Plaintiff, Holly decided to loan the money to a person on the guarantee of the defendant, and therefore, the defendant is obligated to pay the amount because the contract that she helped create did not materialized as intended so she had to bear the costs of her actions. The defendant’s side however claimed that he does not have to do anything about the issue of nonpayment because he was not a direct and contributing party to the contract, and therefore , the motion against qualify as a wrongly developed ...

Introduction

Banking, financial, and even insurance-issuing institutions were badly hit by the global financial crisis that happened in 2007 to 2008. It created a serious domino effect that eventually took its toll on the U.S. Federal Government. The struggling dollar and U.S. economy—the world’s largest economy in terms of GDP, led to a serious wave of financial and stock market corrections that were felt globally, especially in countries whose economy is largely dependent on U.S. commodity and financial supply and consumption. The ultimate effect of the global financial crisis of 2009 was an increased uncertainty and negativity in the financial ...

GP Finance

GP Finance

CBM Cash Budget

For the nine months ending November Note – 1: Payment received in first month is 25% of sales, in second month is 55% of sales and in the third month 20% of payment is received. Note – 2: Depreciation has no cash effect. It is not a cash expense. Therefore, it is not included in the calculation on the Cash budget. CBM must arrange finance from the outside out the business to meet their monthly expenses. The main reason for arranging finance from other sources is that the business has the fixed expense of $60,000 per ...

Role Play Scenario

The proposals of finance manager, in result of the poor financial ratios are debatable. There are many advantages and disadvantages of implementing all three suggestions. The first suggestion of reducing the holding stock by fifteen percent to twenty percent can reduce the holding and manufacturing costs. However, it will affect the trust of shareholders of the company. Shareholders may assume that the business is losing the market share, or the business is not capable of finding new markets for more profits. Therefore, in these circumstances the business may face a failure of the right issue. Moreover, in the competitive environment, ...

- Introduction Nectar Sweets Plc is a company with the main shop in Hong Kong. It is experiencing cash flow problems and is seeking an increase in the overdraft facility from the bank. Statements of the company reveal that its operations are profitable, but it is not efficient in collecting debt. The report identifies and analyses the company’s problems and recommends possible solutions. In addition, it uses financial ratios to assess the performance of the firm. - Problems facing the company - Nectar Sweets Plc has a problem in collection of its accounts receivables. The company takes a ...

Sustainable development can be defined as a robust process which allows people to ascertain their ability and perfect their life quality in ways that enhance and protect the world. A community can apply development practices by developing social progress that decodes the needs of the society. Also, it can maintain economic development that are of high and stable levels. This can be made possible by integrating communities with essential facilities that people need in their daily life (Potthast, Thomas & Simon 32). These can be providing employment, social amenities like schools and hospitals. Sustainable practices can be applied easily especially ...

In the modern society there exist many forms of buying goods and services. In ancient times, people used to buy goods and services by the use of barter trade; this involved exchange of goods for other goods and services. There are various forms of paying for goods and services, among them being cash, hire purchase and buying on credit. Buying on credit refers to a form of payment that can be used by an individual to acquire goods and services and pay for them in the future (Calman 21). Buying on credit is an internationally accepted way of purchasing commodities. ...

Introduction

The paper focuses on Hire Purchase (HP) activity and its relationship to the legal environment. Understanding how business law operates proves essential for understanding the whole concept and guidelines within HP agreements. Commercial activities thrive in environments guided by legislation to enhance smooth performance, as well as maintenance of contracts by the parties involved in the business transactions (MacIntyre 65). Business law primary concern relates to the creation of new companies as well as dealing with the issues arising from the existing enterprises in the process of interacting with other business organizations, the public, and the government. The area ...

IRISH EQUITY LAW

IRISH EQUITY LAW The Mareva injunction is a very powerful remedy which if improperly invoked will bring about an injustice, something that it was designed to prevent’

Introduction

- Definition of Mareva Injunction: A Mareva Injunction is defined “as an injunction which freezes a defendant’s assets, preventing their dissipation, and ensuring that they shall be available to the plaintiff, in the event that the plaintiff succeeds in the trial of action.” In the case of Bank Mellat v Nikpour, the judge described Mareva injunction as “one of the law’s two nuclear weapons”. In O’Mahoney v Horgan ...

1. Chapter 7 bankruptcy is also referred to as “straight” or liquidation bankruptcy. It is the quickest and indeed the simplest form of bankruptcy. Chapter 7 bankruptcy can only be filed by several classes of individuals, in the society. However, before anyone qualifies to file for this class of bankruptcy, the latter must go through a “means test”. The “means test” involves an examination of one’s expenses and income to establish their comparison to the standard that the IRS has set in their particular areas (Frey & Swinson, 2012). A person who can file for Chapter 7 bankruptcy, for ...

The Sabbath is a liberating to both the debtor and the debt-holder in that everything in the land belongs to God. The Israelites are supposed to use the land in respect to Gods commands because the land is for God, and they are strangers and foreigners. The jubilee is a great day that all that had been spent would be reinstated by God to the Israelites. Whatever the debtor spent on the debt-holder shall be refunded by God on the jubilee day. The debt holder would also be paid an amount of time he spent working to pay the debt. In ...

Scenario 1

Since Johnson Corporation repurchased the shares for purposes of resale and not for constructive retirement, they are treated as treasury shares. Gain on sale of treasury stock is treated as a capital surplus. The Controller of Johnson Co. should credit the amount in the capital surplus account. On the date of repurchase of these shares, an entry is made to reduce capital by the cost incurred by the firm to repurchase the shares.

The Controller should make the following entry:

DR Treasury Stock 700 CR: Capital Surplus/ 700 Specific reference and associated literature ASC 505-30 states the guideline for the treatment of gains on ...

Bankruptcy is the process by which a debtor who is unable to pay his creditors, can discharge his debts and get a “fresh financial start”. The most common types of bankruptcy are known as Chapter 7, Chapter 13 for individuals or small businesses and Chapter 11 for larger businesses. Chapter 7 is a liquidation of all the debtor’s assets where the proceeds are used to pay off your creditors. Once all the proceeds are spent, the debtor will be “discharged” from bankruptcy and will no longer be personally liable for most of the debts owed to creditors. Chapter 13 gives the ...

Chapter Two: Real Estate Lending Decision in Kuwaiti Banks

Literature Review

The five Cs of credit model – character, collateral, capital, conditions and capacity, all serve as important indicators for gauging the inclination and aptitude of debtors in fulfilling the obligations they have to their respective creditors (Sraeel, 2005, p. 40, par. 5; Strischek, 2009, par. 2). It is thus advisable for creditors to make their decisions based on the five Cs of credit model in order for them to assess the creditworthiness of their respective debtors properly (Strischek, 2011, par. 1). The prominence of the five Cs of credit model resurged most recently during the 2008 global financial ...

Introduction

The Uniform Commercial Code (UCC) is a law adopted by US legislators, which is concerned with many commercial issues, covering sale of goods, banks and securities interest. However, it does not apply on sales of real estate sale, security interest, employment contracts, marriage settlement and contracts involving labor.

The Crazy Jill

The proposal by a merchant to contractor to sell a good at a given stipulated terms and conditions is an offer. An offer goes hand in hand with acceptance; acceptance terms do not vary with the offer’s terms. If the acceptance terms vary with the offer terms, it will then not regarded as acceptance; ...

Business

Business

Response to Questions

Employees are those people who may be given a job either on a part time or full time basis under an employment contract that can either be written or oral. When talking of an independent contractor, it could refer to professionals such as doctors, engineers and various other professionals who may be carrying out individual businesses through which they offer direct service to the public. For an agent, these are people that may be authorized to act on behalf of other businesses. Their contracts are normally in written form. For instance, a company may be making sales through someone in a different ...

The production director of Wilmslow Ltd wants to schedule production for quarter 3 (the twelve weeks ending 17 September) and asks you to use the revised information to prepare the following: - The revised production budget for Alphas and Betas;

Closing stock is 5 days and 10 days of sales for Q4, for alpha and beta respectively, which is 20% more than the new estimated demand, so the Q4 estimated demand is 120% of 2000 and 2400 respectively =120/100*2000=2400 2400/12=200 units (12 weeks because each week is 5 days)..For Alpha

For beta;

=120/100*2400=2880 2880/6=480 ...

CLOUDS AND INTELLECTUAL THUGGERY

Aristophanes’ cloud is a blatant attack on the sophists and a personal attack on Socrates. The sophists were a class of people who had a revolutionary frame of thought which did not conform to the social norms of their time. They believed in arguing about the validity of everything and using their cunningness and mental prowess to triumph in an argument. Aristophanes’ cloud shows how the teachings of the sophists at the Thoughtery went against common social convention of the time. The play focuses on the activities of the sophists to paint them in their true colors as people who went against social ...

Once in a while, it is possible to turn to a television station like PBS and stumble upon a National Geographic documentary featuring the pyramids of ancient Egypt. They are so common it is almost easy to forget that ancient Incas and Aztec civilization also constructed unique pyramids. Three pyramids in particular are directly under a group of celestial stars and thus further complicate the mystery of them all. In Egypt, the archaeologists and forensic scientists have found bones of many people buried right beside the multi-dimensional triangles and other structures. They have questioned the role and status of these people who seemed ...

In modern business, it is almost impossible not to transact without the use of credit. Often, the amounts of business expenses outmatches the business incomes or at least at one time or another. In order to shore up one’s deficits, it is essential to obtain loans to fill in the gaps. In addition, some businesses generally require additional capital outlay to operate. It is advisable that an entity settles for the best capital mix that balances the assets and liabilities well. An entity must have just the right ratio of debt and equity capital. In accessing debt capital, ...

Introduction

Economics is a term which lies in almost every walk of life and it is a term which is quite important from different standpoints. The term of economics has been utilized and discussed entirely through different provisions in total. There is no single definition of the term ‘Economics’ exist in this world, because every author has been discussing the same in a somewhat different manner in total. Adam Smith and Alfred Marshal are known as the founder of Economics (FOE), found that economics is the study of wealth and the concept of the same should have been categorized into different provisions ...

Business law and ethics

Business law and ethics

Introduction

Bankruptcy can be defined as the inability of a person or an entity to repay some debt. Bankruptcy is mostly used in legal framework where a debtor fails to honor his or her outstanding debts to a creditor in the course of business. Bankruptcy in big corporations involves long court battles as they try to relieve themselves out of the huge debts that may have been accrued over time. In the legal entity bankruptcy is instituted to try free up the debtor's obligation in paying the debt he or she owes the creditor. Bankruptcy proceedings involve measuring and ...

Charles Dickens lived during the Victorian era of Great Britain, which comprised Queen Victoria’s reign (from 1837 to 1901). While this period saw the birth of a great many innovations in social and economic prosperity for the British, there were also rampant problems for people living during the Victorian era. One of the most prevalent issues was poverty – there was a huge problem with wealth inequality in Victorian-era England. The Victorian era saw a dramatic population increase in England – the number of British citizens nearly doubled from beginning to the end of the era, and industrialization led to a great deal of ...

Charles Dickens lived during the Victorian era of Great Britain, which comprised Queen Victoria’s reign (from 1837 to 1901). While this period saw the birth of a great many innovations in social and economic prosperity for the British, there were also rampant problems for people living during the Victorian era. One of the most prevalent issues was poverty – there was a huge problem with wealth inequality in Victorian-era England. The Victorian era saw a dramatic population increase in England – the number of British citizens nearly doubled from beginning to the end of the era, and industrialization led to a great deal of ...

Introduction

Business expansion needs careful planning. The decision for one to extend his or her business must in fact come from thoughtful consideration of a number of factors including the logistical, financial, and even emotional readiness. As a rule of thumb, one should expand his or her business when untapped opportunities are present so as to benefit the business enterprise. Softly Pty Ltd is essentially an established business since it has been in operation for fifteen years. This report describes what the management of Softly Sofas Pty Ltd needs to consider for them to be successful in their expansion goal.

Possible sources of finance

One of ...

Bankruptcy law protects people or companies that are unable to service their loans or other debts that they have accumulated from creditors (Andrew, 2013). The debts may be due to unavoidable situation which is not entirely their fault. The most common types of bankruptcies are chapter 11 and chapter 7. Chapter 11 mainly deals with debts involving large amounts of money. On the other hand, chapter 7 covers for companies and people who are unable to service their loans. Chapter 7 is also known as liquidation and it involves appointing a trustee, who collects and sells assets from debtor, and ...

Introduction

Bankruptcy is the state of being unable to repay debts owed. This is a legal status that can affect an individual or an organization. In the United States, there are laws set to help debtors through liquidation process. Alternatively, the individuals can create a repayment plan (Federal Courts, 2011).

Bankruptcy Basics is a publication of the Bankruptcy Judges Division of the Administrative Office of the United States’ Courts. Its major role is the provision of relevant information to creditors, debtors, courts, the media and individuals on bankruptcy and existing federal bankruptcy laws. It contains detailed information on the processes involved, discharge in ...

Competition Bikes Inc. Storyline

Horizontal Analysis In horizontal analysis, analyses of the performance of the company over a given duration of time is done. The intent of this paper is to analyze Competition bike's performance in the given period by using various methods. From the analysis of the financial statements of Competition Bikes Inc, there is a commendable performance in the company. Although there is a decrease in sales in the year 7 and the year 8 of 15 percent, a rise in the net sales is observed in the year 6 and 7, with an increase of 33 percent. This reduction in sales in the ...

Analysis of various models used in predicting Bankruptcy

Bankruptcy refers to a legal position of an individual or an organization becoming insolvent. This means that the individual or the organization becomes unable to pay its creditors. In many countries, the status of an individual or organization being bankrupt is usually declared by a court of law (Newton, 2010). The process starts with a creditor or the entity in question filing a bankruptcy petition in a court of law. The assets of the debtor are assessed and then used to pay a part of the creditors’ debts. After the process, the debtor is usually relieved of the financial obligations of the debts incurred prior ...

Q.1. Before providing assessment of the case, whether or not there is a ground for legal action, the main problem has to be determined first to be able to construct a sound judgement. The main issue is that Cotton Limited, which happens to hold 89.5% of Satin Co. Limited's shares is pushing the minority shareholders including Silk to sell their own shares to Cotton Limited. The decision to buy-back the minority shares was made by Satin's board members themselves. Therefore, the idea of making the company a wholly owned subsidiary constitutes validity because the agreement was made by the majority of the ...

-3: Title VII Violations. Discuss fully whether either of the following actions would constitute a violation of Title VII of the 1964 Civil Rights Act, as amended. 1. Tennington, Inc., is a consulting firm and has ten employees. These employees travel on consulting jobs in seven states. Tennington has an employment record of hiring only white males.

2. Novo Films, Inc., is making a film about Africa and needs to employ approximately one hundred extras for this picture. To hire these extras, Novo advertises in all major newspapers in

Southern California. The ad states that only African Americans need apply.

In this case, since Novo Films, Inc. is intending to make a film ...

Financial management

In large organizations, ratios are usually used for benchmarking as well as for effectively analyzing the performance. Both large and small organizations are usually interested in the profitability, efficiency and the liquidity of their firms. Profitability ratios measure the rate at which organizations are successful in creating wealth. Efficiency ratios measure the capability of organizations in utilizing the company’s resources in earning profits. The liquidity ratios measure the ability of organizations in meeting the short term obligations.

Profitability ratio

The profitability ratio is usually composed of return to asset ratio, net profit margin and gross margin ratio. A small firm ...

How Western Religious Heritage has shaped up Work Ethics in the West

Work ethics is about how people carry out their jobs or their responsibilities. It also includes how a person feels regarding their career and vocation of their jobs. Work ethics involves respect, good behavior, communication, attitude and even how one relates with others. It is work ethics that shows whom and what a person stands for. Characteristics of work ethics include accountability and honesty. This narrows down to what a person would do or does when they are in a particular situation. The major issue in a situation would involve what is acceptable, right and above board. According to philosophy, if a person does not ...