Definition Liquidation, or “winding up”, has to do with solvency and insolvency. A company is solvent if it can pay its debts, and insolvent if they cannot. When insolvent and unable to pay its obligation, a firm’s assets are liquidated, meaning they are divided among...
Definition: Mediation is a process where a neutral and independent person (a mediator) helps the parties in a dispute reach an agreement. Therefore, the mediator may be appointed by a court or in private. It is an alternative to the adversarial judicial system of dispute...
Elements of an enforceable contract In order for a contract to be enforceable the following essential elements must be present: Agreement (Offer & Acceptance);Consideration;Contractual Intention; andLegal Capacity. Generally, there are no requirements as to the form of a contract in order for the contract to...
The majority of people using the internet do not seem to care about the random use of their personal data. But Privacy Law gets a new assignment because of the infinite possibilities to collect and link data on the internet. That implies the necessity of...
The Process of Recovering Outstanding Debt The process of recovering outstanding debt in NSW is composed of multiple stages. After a certain period of time passes with no/insufficient payments being made towards the debt owed, you can commence a court action by lodging an Ordinary...
