Creditor College Essays Samples For Students

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 ...

- According to "What Compliance Looks Like," What 4 basic elements of the Red Flags Rule must one include in their Identity Theft Prevention Program?
- They must include logical policies and measures.
- In the program structural design, it must be able detect and deter red flags identified
- The system should have well outlined counter measures to follow in case of red flag detection.
- The system must be kept up to date to enable new threats detection.2. Who must comply with the Red Flags Rule?
The major complaints of the program ...

Business Law

1. List and explain the four (4) requirements of a valid contact and the two (2) defenses to the enforceability of a contract. Cite and explain two cases from the textbook that discuss contract law.

Agreement (Offer and Acceptance).

When one party proposes something to another, he is said to make an offer. If a party agrees to the proposal without any change in it, he is considered to have made the acceptance of that offer. An offer is always confused with an invitation to treat. Advertisements and displays in shops are the examples. They are not offers, but an invitation to treat. An acceptance must ...

The case Thompson v. North American Stainless, LP addresses the scope of the retaliation provision under Title VII that enables protection for the employees against the illegal actions of the employers. Title VII of the Civil Rights Act of 1964 permits retaliation cases in order to decrease the exposure to the discriminatory activity in actions of the employees. Meanwhile, this article states that the retaliation should be understood as the situation when the employee of the firm was fired or reassigned as well as he was deprived of the certain range of the benefits if the employer considered them ...

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, ...

Abstract

Debt covenants have become one of the major issues that affect the operations of the firm. Many scholars have come up with different ways in which they can leverage this problem. There are many theories of corporate governance that try to solve these problems that face managers of financial institutions. Most of these theories defy the debt covenant perspective and the corporate governance problems in relation to how equity and debt holders affect the director’s ability to act in the interests of the providers of capital. Banks as financial intermediaries have special attributes that increase the standard corporate ...

How the Changes in the Insolvency Act of Mauritius in 2009 Have Changed How Mauritius Handles Bankruptcy and Insolvency?

Insolvency is having more debts then assets that are available to pay them. Insolvency is also determined when a bankruptcy court decides that a person or a business cannot earn the needed funds to pay off all of their debts. The court can then choose to discharge some or all of the debts. This leaves the creditors not getting the money that they are owed. In many cases the insolvent is permitted to retain a few assets.
The changes brought to the insolvency act of Mauritius in 2009 have modernized the way Mauritius deals with bankruptcy and insolvency. This ...

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 ...

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 ...

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 ...

Management

A limited partnership is where the partners are limited to the amount of capital they have contributed in the partnership business. The partners in a limited partnership are only entitled to the share of profit of the organization in the ratio of their capital contribution. Limited partners do not participate in the management of the partnership. Limited partners, unlike general partners, are not liable in case the partnership operates at a loss. Limited partners participate in dividend payment at the end of the financial period. A creditor may be considered to be in a limited partnership, in the partnership. This occurs when ...

BUSINESS LAW

Part A: Question 1
Using the four-step process, discuss the element of agreement required for the formation of an enforceable contract. Have Sensational Sails and EquipU reached an agreement regarding the sale of the Italian machinery?

Identifying the Legal Issue

Bill and Ben are best mates and love to sail together. They want to turn their sporting interest into a business. They decide to start their own company called Sensational Sails Pty Ltd (Sensational Sails). Bill and Ben design and manufacture sails for all size yachts and supply wholesale to retail outlets. Their company becomes highly successful and soon they need more sophisticated ...

Business

Question 1
In this case, the first loan agreement was between Agile Corporation and Hi Finance Company. The collateral attached to the loan protects the interest of the lender (HFC) such that if the borrower defaults, the lender can use the collateral against the amount borrowed. When a party enters into such transaction and a valid agreement is made, the transaction is secured. HFC, being the first lender, is referred to as the senior lender and has priority over the collateral. Metro Bank is the second lender hence the loan is junior to that of HFC. The interest of ...

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) ...

Question 1

The balance of payment is defined as the way in which countries use to monitor all financial and monetary transactions within a specified period. The balance of payment is conducted in each country on a quarterly and annual basis. Ideally, the balance of payment is supposed to be zero for a country indicating identical assets and liabilities. However, this is rarely the case since a country may end up borrowing more than it can pay and is thus said to be in deficit or a country could have more than what it owes and is thus termed as being ...

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 ...

Negotiation has come to increasingly represent a critical component in numerous contexts: business, political, social and educational. Compared to earlier approaches to governance and management across different contexts, a governor / leader / educator used to impose her own view on direct and indirect stakeholders. The rules and policies of engagement are, in a business context, numerous and are a function of corporate culture including not only "basic" benefits and perks additional to compensation but also, in more "informal" work settings, working hours and layout design. Two best negotiation strategies are, for current purposes, discussed: Do Your Research and ...

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 ...

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
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 ...

Introduction

In property law a major area of contention is family property. Spouses may be left unprotected in the occurrence of break ups in marriage if the only rights they have is the evidence of acquired property while in marriage even with the contributions they have made in the family and the time and efforts put for the welfare of the family. Injustices may come up in cases where there is no family or financial contributions made by spouses as much as they have rights to each other’s property.
The approach of community property as a choice for the division ...

- Finance
Finance is that administrative area or set of administrative functions in a firm that focuses on the cash flow management in order to achieve its objective in a timely manner. Finance plays a significant role in the economic development process by creating new jobs and economic activity within a defined area.
- Efficient market
It is widely used in the capital market where it refers to spreading security risk and efficiently guiding the allocation of capital within and between economies. It means that security prices fully reflect all available information. It provides an organization of various method leading ...

Management

The privacy rules of HIPAA are defined as the right of any persons to have an access to all protected health information that is of him or her and controlled by an entity that operates in a primary paper-based surroundings. Protected health information is been converted from paper records to electronic forms through the help of health information technology. There is a massive adoption of electronic health records in most health institutions to create quality and efficiency in healthcare delivery. The health IT highlights the measures that individuals can request electronically for their protected health information.
The critical role of ...

IMPACTS OF 1st WORLD WAR ON THE WESTERN WORLD

World war one was a defining moment for the 20th century for most European countries. Its effects were resounding for years in the economic, political and public opinion. In England a lot of changes were spotted like women acquiring the right to vote, working class people were fully employed including the women. The distribution of income moved and it became in favor of the poor. In Germany at the end of the war the social democratic party assumed power after the government collapsed.
World war one had a great effect on the European countries like France, England, Germany, Russia, Austria- Hungary ...