Describe Involuntary or Assignments by Operation of Law
Describe Involuntary Assignments or Assignments by Operation of Law?
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When somebody dies, law repeatedly assigns that person’s rights as well as obligations to a individual representative (executor or administrator). Personal representative is able to stand in deceased's shoes and assert rights of deceased and accomplish his/her obligations. A person who does not willingly declare bankruptcy but whose creditors are successful in obtaining a receiving order has both his assets and responsibilities, mutually with contractual rights and obligations, allocates to the trustee in bankruptcy.
Illustrate bilateral contract?
1. GML owns 92% of the issued shares in Explorer Ltd. The remaining 8% of the shares are held by five individuals, including a Mr Owen who owns 0.5% of the issued shares. Mr Owen is a high profile individual who has at times been critical of the Chinese government’s activities in the South China
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