Abstract
This paper explores the relationship of debtor and creditor relationships through examining the various repercussions from a single scenario, depending on whether the debtor or the creditor is the party to file bankruptcy.

Abstract
This paper answers the question as to whether the doctrine of ultra vires has in fact acted to the detriment of the shareholders and creditors it initially aimed to protect. The paper takes a chronological approach, concentrating firstly on the origins of the doctrine and then following the changes made to it by the judiciary and through legislative intervention. The paper reaches the conclusion that the doctrine has been misapplied and misused from its very conception and no longer holds any benefit for shareholders or creditors.

Outline:
Introduction
The Origins and Purpose of the Doctrine of Ultra Vires
Towards a Less Restrictive Approach
Rethinking the Construction of Objects Clauses
Ultra Vires and the Equitable Doctrine of Constructive Notice
Legislative Intervention
The Proposed Abolition of the Ultra Vires Doctrine
Conclusion

From the Paper
"The ultra vires rule was one of judicial law-making, developed at a time when there was much distrust of companies and was predicated on the notion that shareholders and creditors needed protection from "managerial overreaching" , namely the misappropriation of investment or credit from said parties into funding ultra vires activities. Though its origins can be traced back as far as the early 1700s , the earliest case to deal with doctrine as it exists in relation to modern registered companies is Ashbury Railway Carriage Company v Riche . The plaintiff company, whose stated object was the manufacture and sale of railway carriages and rolling stock, entered into a contract with the defendant to finance him in the construction of a railway in Belgium. The contract was later repudiated and Ashbury sued for damages. The defendants contended that the agreement was ultra vires and therefore void ab initio. The court held that as a statutory company, established under the Joint Stock Companies Act 1862, it had limited contractual capacity and that this particular contract was ultra vires. This was predicated on the notion that such statutory companies, being formed by the state using state funds, were generally quite powerful and so the courts imposed the ultra vires rule in order to redress of the imbalance of power between the company and the individuals dealing with them."

Tags:judiciary, liability, memorandum, Companies, Consolidation, and, Reform, Bill

Abstract
" Here, it appears, the petition would not be granted because the general partner - Beren - who filed the petition filed it incorrectly. He filed an involuntary petition. An involuntary petition can only be filed by a creditor or creditors of the entity, not an owner as Beren is. Beren should have filed a voluntary petition, which is described in the Bankruptcy Code under Voluntary Bankruptcy as "...filed by any individual, partnership, and corporation ... may qualify to file under Chapter 7 of the Bankruptcy Code". It is possible that the partnership is not - what could be defined as - technically bankrupt. This occurs when total liabilities exceed total assets. "

From the Paper
A RESEARCH PAPER ON BANKRUPTCY FILINGS BUSINESS BANKRUPTCY EVENTS 1. Petition: A partner in a three member general partnership entity that owns real property in the partnership name is stated to have filed an involuntary petition requesting the placement of the partnership into Chapter 7 Bankruptcy. Here, it appears, the petition would not be granted because the general partner - Beren - who filed the petition filed it incorrectly. He filed an involuntary petition. An involuntary petition can only be filed by a

Tags:business, bankruptcy, studies

Abstract
A comparison of these two stories which shows how the authors Athol Fugard and Chinua Achebe achieved their subjective variations on the theme of human oppression.

From the Paper
"The theme in Master Harold is also the oppression of human beings by discrimination, but in this story, the oppression is racial. Sam, a black man, has been a major male figure in the life of young, white Hally. Hally and Sam were very close during Hally's childhood, but he did not consider the older man to be his equal. Sam cannot sit on the same park bench with the boy because he is black. But during the course of the play, we see Hally pull rank on Sam and put aside their equality because Harold is white and Sam is not. "

Tags:africa, colonialism

Abstract
This paper looks at how African writer Chinua Achebe gives the reader insight into the realities of modern African culture and argues that inequality and discrimination can drive a person into committing deadly crimes.

From the Paper
The characters play key roles in presenting both sides of the racial discrimination issue in "The Vengeful Creditor." The issue can be broken down into rich vs. poor and power vs. impotence. We see a wealthy family who lives in the capitol and drives a Mercedes and whose children attend private school. On the other side, we see a poor black family living in poverty conditions. The story is full of messages and symbols that support the author's argument that inequality and discrimination can lead to acts of desperation in search for equality because the poor "hard luck" characters have nothing to lose and everything to gain.

Tags:discrimination, class, wealth, crime

Abstract
This paper analyzes the above book on the sociological ramifications of Chapter 11 bankruptcy and how bankruptcy has become a legitimate business tool that is often used by corporations. It discusses how the book reveals a great deal about the connections between law, economics and sociology and how since corporations have begun to use Chapter 11 filing as a legitimate business strategy, bankruptcy has become an increasingly common means to address social issues like victim compensation and labor issues. It shows how the legal system, in addressing an economic issue, ultimately plays an important role in the social fabric of American society.

From the Paper
"Delaney's discussions also reveal a great deal about the connection between law, economics, and sociology. He notes that bankruptcy court is rapidly becoming a way for companies to address a wide variety of social concerns, rather than as a way to address economic problems. As such, it appears that our society is now endorsing, or at the very least allowing, financial and legal solutions for a variety of troubling social problems that commonly arise within the corporate sphere."

Tags:law, economics, sociology, business, tool

From the Paper
"People respond to debt in one of two ways. Some are overwhelmed by it. Others are slightly uneasy and worry that they are in too deep. Most people, in fact over 40 million Americans, fall into these categories;. and while credit offers wonderful opportunities to improve a person's material standard of living, unless used wisely, it is easy to fall into the nightmare of unpaid bills, overdue notices, collection agency letters, negative credit reports and even bankruptcy. However, it is possible to set up a credit repair system that allows an individual to get out of debt and manage money more wisely.


The first step is to recognize there is a problem. There are a number of danger signals. Credit borrowing doesn't make much sense when installments are made on products that are quickly consumed such as food, gifts and entertainment. A person..."

From the Paper
"Traditionally, managers are responsible to a company's board of directors, and the board of directors are responsible to the shareholders. This has resulted in a bias among managers toward returning value to shareholders to the exclusion, or at least detriment, of others who have an interest in a company's performance. In recent years, companies have begun to recognize that shareholders constitute only one group of people with an interest in not only the so-called "bottom line" performance, but also in how a company conducts business. Employees, vendors, customers and the communities in which companies operate have all succeeded in having their voices heard (to some degree) at various companies, which has resulted in a new term to describe these groups: stakeholders. This research examines the question of how much responsibility..."

Abstract
This paper uses the ideas from the book "Getting to Yes" and applies them to a case in which a debtor owes money to a creditor company that it cannot pay,

From the Paper
"Amy Siegel is credit manager for Star Computer Components, a manufacturer of printed circuit boards. One of Amy's collectors told Amy that she has been unable to reach anyone at Odyssey Electronics Inc. to discuss a past due balance. Amy reviewed the credit file and found the following information about Odyssey: The debtor company is four years old. It employs eighteen people. A credit report shows Amy's company is one of Odyssey's two largest creditors."

Tags:Negotiation, debt collection, collection tools, getting to yes, negotiation strategies

Abstract
This paper examines the purpose and users of financial statements which can include present and future shareholders, creditors, employees, the government and the public at large. It looks at how the statement of principles focuses the attention of both regulatory authorities and the reporting entities on what it considers to be the main users of financial statements and current and future investors. It also discusses how there is clearly a limit to the amount of information that can be disclosed in a set of financial statements, as too much information would overwhelm users, who would not then be able to find the information relevant to them.

From the Paper
"According to the Accounting Standards Board, the Statement of Principles contains the philosophy of what the Accounting Standards Board is trying to achieve through the process of issuing accounting standards, and can be used to some extent as the mission statement of the Accounting Standards Board. In the Statement of Principles, several users of financial statements are identified (Accounting Standards Board 1999). These include present and future shareholders, creditors, employees, the Government, and the public at large. With such a diverse set of users for a company's financial statements, it would be very difficult for a set of accounts to successfully satisfy the informational needs of all users fully. This is why the Statement of Principles focused the attention of, both regulatory authorities and the reporting entities, on what it considers to be the main users of financial statements, current and future investors."

Tags:accounting, standards, board, shareholders, creditors