Deck 16: Criminal Damage

Question 1

What is meant by winding up?

A) the sale of the companies assets to satisfy liabilities
B) the purchase of assets to increase liabilities
C) the delay in satisfying debts
D) the purchase of company timepieces

Answer 1

A

Question 2

Which of the following cases is not a leading case on charges?

A) Siebe Gorman v Barclays
B) O'Neil v Phillips
C) Re New Bullas Trading
D) Agnew v Commissioner of Inland Revenue

Answer 2

B

Question 3

A person appointed under an instrument secured over the assets of the company to manage and realise the assets for the benefit of the charge holder is called a

A) receivable
B) receiver
C) liquidator
D) administrator

Answer 3

B

Question 4

Which of the following is not a charge?

A) a loan
B) a fixed charge
C) a floating charge
D) a mortgage

Question 5

What is a charge?

A) a type of electrical current
B) a company asset
C) a loan security
D) a type of creditor

Question 6

Who is considered a secure creditor?

A) a creditor with a proprietary interest over company assets
B) a creditor with a contractual interest over company assets
C) a creditor of a well run company
D) a wealth creditor

Question 7

What is a winding up order?

A) an order to consider liquidation
B) a shareholders' decision to liquidate the company
C) a director's decision to liquidate the company
D) a court order to liquidate the company

Question 8

Which of the following is not a type of winding up?

A) spontaneous winding up
B) voluntary winding up
C) compulsory winding up
D) insolvent winding up

Question 9

What is meant by liquidation?

A) the delay in satisfying debts
B) the purchase of assets to increase liabilities
C) the same as winding up
D) the purchase of liquid assets

Question 10

What is meant by crystallisation?

A) when a fixed charge becomes a floating charge
B) when the company assets are frozen
C) when the company assets are sold
D) when a floating charge becomes a fixed charge