Liquidating business definition
The authors of the initial UPA debated whether in theory a partnership should be treated as an aggregate of individual partners or as a corporate-like entity separate from its partners.
The UPA generally opted for the aggregate theory in which individual partners ("an association") comprised the partnership. 14.-The free and personal choice of the contracting parties is so essentially necessary to the constituting of a partnership, that even executors and representatives of deceased partners do not, in their representative capacity, succeed to the state and condition of partners; 2 Ves.
These words appear in red, and are graded with stars.An administrator is appointed by the court, creditors or the company itself.Furthermore, the administrator takes on a broad scope of duties and literally takes over those duties which were previously held by directors.Click on the thesaurus category heading under the button in an entry to see the synonyms and related words for that breadcrumbing in online dating, sending messages which suggest that you're still interested in someone, when in fact you're very unlikely to want to meet or have a relationship with them Buzz Word Article Open Dictionary paraprosdokian a figure of speech in which the latter part of a sentence or phrase is surprising or unexpected in a way that causes the reader or listener to re-frame or re-interpret the first part add a word Blog A must for anyone with an interest in the changing face of language.Liquidation is the selling of the assets of a business, paying bills and dividing the remainder among shareholders, partners or other investors. Upon liquidation of certain business, such as a bank, a bond may be required to be posted to assure the proper distribution of assets to creditors.
In other words a liquidation definition could simply be 'winding up a business.' It can be compulsory (court ordered) or voluntary, but it always results in the winding up of a business.