Juridical Dictionary

This dictionary contains:
8526
juridical terms

Winding-up






Winding-up

The process by which a company dies. There are three separate procedures - a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a compulsory winding up by the court. Once the process starts the company is administered by a liquidator who disposes of all assets, and distributes the remainder to members or creditors. When the process is complete, the company is struck off the Companies Register and ceases to exist.

RELATED TERMS
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Process
1) Practice. So denominated because it proceeds or issues forth in order to bring the defendant into court, to answer the charge preferred against him, and signifies the writ or judicial means by which he is brought to answer. 2) Rights. The means or method of accomplishing a thing.

Company
An association of a number of individuals for the purpose of carrying on some legitimate business.

Dies
A day. There are four sorts of days: 1) A natural day; as, the morning and the evening made the first day. 2) An artificial day; that is, from day-break until twilight in the evening. 3) An astrological day, dies astrologicus, from sun to sun. 4) A legal day, which is dies juridicus, and dies non juridicus.

Members
English law. Places where a custom-house has been kept of old time, with officers or deputies in attendance; and they are lawful places of exportation or importation.

Voluntary
Willingly; done with one's consent; negligently.

Solvent
One who has sufficient to pay his debts, and all obligations.

Insolvent
1) It signifies a person whose estate is not sufficient to pay his debts. 2) A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility which his creditors may enforce, by recourse to legal measures, without reference to his estate proving sufficient to pay all his debts, when ultimately wound up. 3) It signifies the situation of a person who has done some notorious act to divest himself of all his property, as a general assignment, or an application for relief, under bankrupt or insolvent laws.

Compulsory
Involuntarily; constrained: as, a compulsory -- arbitration, assignment, condition, nonsuit, payment, process.

Court
A body in government to which the administration of justice is delegated.

Liquidator
The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company.

Assets
Cash, property and investments along with anything else that may be of value to a individual or business.

Remainder
Estates. The remnant of an estate in lands or tenements expectant on a particular estate, created together with the same, at one time.

When
1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent.

Struck
Pleadings. In an indictment for murder, when the death arises from any woundng, beating or bruising, it is said, that the word "struck" is essential.

Register
1) Register or Registrar. An officer authorized by law to keep a record called a register or registry; as the register for the probate of wills.2) Common law. The certificate of registry granted to the person or persons entitled thereto, by the collector of the district, comprehending the port to which any ship or vessel shall belong; more properly, the registry itself. 3) Evidence. A book containing a record of facts as they occur, kept by public authority; a register of births, marriages and burials.



SIMILAR TERMS
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Window
An opening made in the wall of a house to admit light and air, and to enable those who are in to look out.The owner has a right to make as many windows in his house when not built on the line of his property as he may deem proper, although by so doing be may destroy the privacy of his neighbors.



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Wife de fait
A wife de facto.

Wild animals
Animals in a state of nature; animals ferae naturae. Ferae naturae.

Wilfully
1) Intentionally. In charging certain offences it is required that they should be stated to be wilfully done. 2) In Pennsylvania it has been decided that the word maliciously was an equivalent for the word wilfully, in an indictment for arson.

Will
A will is a legal document in which a person directs how his property is to be distributed after his death. Such documents must be executed in due form and must be duly witnessed.

Winchester measure
The standard measure originally kept at Winchester, in England.

Winding-up

Window
An opening made in the wall of a house to admit light and air, and to enable those who are in to look out.The owner has a right to make as many windows in his house when not built on the line of his property as he may deem proper, although by so doing be may destroy the privacy of his neighbors.

Wire-tapping
An electronic surveillance device which secretly listens in and records conversations held over a phone line. It is usually only allowed with the permission of a judge and if it can be shown to be necessary for the solving of a serious crime.

Wista
Among the Saxons, this was a measure of land; it contained a half hide, or sixty acres.

Wit
To wit. That is to say; namely; scilicet; videlicet.

With prejudice
A declaration which dismisses all rights. A judgment barring the right to bring or maintain an action on the same claim or cause.

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This dictionary contains 8526 terms.