WHO CAN BE ADJUDGED INSOLVENT DEFINITION

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Adjudged (by a competent court) insolvent means, the person is relieved of all his liabilities. Adjudged insolvent: a debtor within a meaning of Insolvency Act and committed an act of Insolvency as per law. So adjudged an insolvent means a person who is declared an insolvent by.

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In India a minor is not personally responsible for his debts and is not capable of entering into contracts. Therefore a minor can't be adjudicated an insolvent.

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dads-space.com provides information on Persons who can be Adjudged Insolvent.

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An act of insolvency can be defined as some act of the debtor which shows that he is not (6) When the debtors petitions the court to be adjudged an insolvent.

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Any person, who can be made personally liable for contracts entered into by him, may be adjudged an insolvent, provided: • he is a 'debtor' within the meaning.

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So, Adjudged an insolvent means “a person who is declared an court for settlement of his liabilities is Jan 1, (liabilities can be settled by.

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AS TO BE ADJUDGED BANKRUPT? The term "insolvent" is defined in the Bankruptcy Act the proposition that a partnership could be adjudged a bankrupt.

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new petition for sequestration may be filed, and such been adjudged insolvent, the court may proceed in the .. intent and meaning of this Ordinance.

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