Question 3 (a) (i) There are four differences between a fixed charge and a floating charge. One of the differences is a fixed charge is a charge which attaches to specific identifiable assets. The examples of specific identifiable assets are factory‚ building and land. On the other hand‚ a floating charge can be created on asets whch are presnt and futur. Floating charge does not attach to specific asset which changes from time. It is a chage on clas of aset instead on a specfic aset according
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the differences between fixed charge and floating charge are easy to recognize charges with certain assets are known as fixed charges. Charges created on assets that change regularly are floating charges. Fixed charge is special nature do not like floating charge is dynamic. There is a voluntary in moveable asset and compulsory in fixed charges for the registration. On the other hand‚ when there is a floating charge‚ the registration is mandatory regardless of the type of assets. Fixed charge is a
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TOPIC: FLOATING CHARGE AS A MEANS OF SECURITY IN CORPORATE FINANCE MEMBERS ODO Ifeoma Matric. No. 109061033 ARINOLA Abisola Ajoke Matric. No. 109061098 AWAJI Cecilia Matric No. 109061026 FALADE Olaronke Matric. No. 099061090 LECTURER: DR. DAYO AMOKAYE AND DR. TUNDE OTUBU TABLE OF CONTENT INTRODUCTION CHAPTER 1 DEFINITION AND NATURE OF FLOATING CHARGE CHAPTER 2 CREATION OF FLOATING CHARGE CHAPTER
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distinguishing a fixed and a floating charge has considerable significance particularly for the parties involved in commercial relationships. It follows from the fact that under English law a fixed charge has a priority over a floating charge that means the former will prevail over the latter even though the company has granted a floating charge to the creditor prior to the creation of a fixed security. Another reason is that under the provisions of Insolvency Act 1986 holders of a floating charge are placed
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Fixed and Floating Charges In the event where the borrower is a company a debenture will be issued. Under Section 4(1) of Companies Act (CA) 1965‚ debenture is the document that proves a company is actually borrowing money from the bank but it is not a charge. It can be divided into two types namely secured debenture and unsecured debenture. An unsecured debenture simply means that there is no security being used. It is similar to IOU as it is merely telling that the borrower (company) is borrowing
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“Registration of Charges” What is meant by a charge? The word ‘charge’ is to used to mean any form of security for debt‚ unless the word is used otherwise. A company having power to borrow money is empowered also to charge its assets‚ subject however to any limitations in its Memorandum or Articles. Under Companies Act‚1956(S.124)‚ the expression ‘charge’ includes ‘Mortgage’. What is meant by a fixed and a floating charge? A ‘fixed charge’ is also called a ‘specific charge’. It extends over
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HW 1 solutions Point Charge in One Dimension A point charge q1 = -3.5 μC is located at the origin of a co-ordinate system. Another point charge q2 = 5.1 μC is located along the x-axis at a distance x2 = 9.3 cm from q1. 1) What is F12‚x‚ the value of the x-component of the force that q1 exerts on q2? -18.57 N For all of these problems we want to make use of the standard electric force equation: ̂ So for this problem with K=9*109 Nm2/C2‚ Q1=-3.5μC‚ Q2=5.1 μC‚ and r=9.3 cm we get F=-18.57
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Charge Syndrome Introduction Charge Syndrome is a specific collection of non-randomly occurring congenital anomalies. The acronym CHARGE actually stands for the major features of this syndrome. The letter C stands for coloboma of the eye‚ H is heart defects‚ A stands for atresia of the choanae‚ R is retarded growth and development‚ G stands for genital abnormalities and lastly letter E stands for ear anomalies and/deafness. The cause of this syndrome may be genetically heterogeneous‚ but
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Battle of Gettysburg at the end of the three days. Pickett’s Charge was the highest point of the Battle of Gettysburg. The charge took place on the third day of the battle. Robert E. Lee ordered Pickett’s Charge. It involved an infantry assault of approximately 15‚000 Confederate soldiers against Union Major George Meade’s troops (History Net). This was along Cemetery Ridge‚ manned by 6‚500 Federals (History Net). The whole point of this charge was to fire cannon the entire time. The ill-fated assault
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The NCO Creed and NCO Charge were made so an NCO would have a precise understanding of his responsibilities in the United States Army. I neglected those responsibilities and disrespected the backbone of the United States Army. Below is my understanding of how the NCO Creed and NCO Charge apply to this situation. No one is more professional than I. I am a Noncommissioned Officer; a leader of people. I am proud of the Noncommissioned Officer corps and will‚ at all times‚ conduct myself so as to
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