 |
Business | Industries | Finance | Tax |
| Index: > A B C D E F G H I J K L M N O P Q R S T U V W X Y Z |
|
|||||
| First Prev [ 1 2 ] Next Last |
In business, administration is the performance or management of transactions and other matters of business, and the making and implementing of major decisions. And can be the title of the General Manager who reports to the corporate board of directors.
In United Kingdom business law administration is also a term used when an outside party (an administrator) is brought in to try and rescue a company in difficulty. An administrator can be appointed by, the Courts (on application from a creditor, directors or partners), the holder of a qualifying floating charge over the assets of the business or the company or its directors.
In the United States, it is often used to refer to the executive branch under a specific president (or sometimes governor, mayor, or other local executive), e.g. the "Bush administration". government would be the analogous term used in most other countries. It can also mean an Executive branch agency headed by an administrator, these agancies tend to have a regulatory function as well as an administrative function.
Another sense is the administration (giving or tendering) of the sacraments, justice, oaths, medicines (see route of administration), etc.
In the United Kingdom, it is the British law for the dividing-up or disposal of the estate of a deceased person (see will).
Since the Land Transfer Act of 1897Events January 1 Brooklyn, New York merges with New York City. January 4 A British force is ambushed by Chief Ologbosheri, son-in-law of the Oba of Benin. This leads to a Punitive Expedition against Benin. February 2 The Pennsylvania state capitol is dest, the administrator is the real as well as the personal representative of the deceased, and consequently when the estate to be administered consists wholly or mainly of reality the court will grant administration to the heir to the exclusion of the next of kin. In the absence of any heir or next of kin the crown is entitled to the personalty as bona vacantia, and to the realty by escheatEscheat is an obstruction of the course of descent and the consequent reversion of property to the original grantor. At common law there were two main ways this could happen. If you were convicted of a felony, in English law, your property was forfeit to. If a creditorA creditor is a party (e. person, organization, company, or government) that claims that a second party owes the first party some property or service. The first party, in general, has provided some property or service to the second party under the assumpt claims and obtains a grant he is compelled by the court to enter into a bond with two sureties that he will not prefer his own debt to those of other creditors.
Letter of Administration : Upon the death of a person intestate or leaving a will to which no executorAn executor is a person named by a maker of a will to carry out the directions of the will. The executor's duties include the payment of outstanding debts and the disbursement of property to the heirs, as designated in the will. Also the exectuor makes als are appointed, or when the executors appointed by the will cannot or will not act, the Probate Division of the High CourtThe term "High Court" could refer to one of the following institutions: High Court of England and Wales High Court of Australia The Four Courts of Ireland The High Court of Justiciary in Scotland And the 18 High Courts of India The High Court of Andhra Pr is obliged to appoint an administrator who performs the duties of an executor. This is done by the court granting letters of administration to the person entitled. Grants of administration may be either general or limited. A general grant is made where the deceased has died intestate. The order in which general grants of letters will be made by the court is as follows:
The more important cases of grants of special letters of administration are the following:
Administration cum testamento annexo, where the deceased has left a will but has appointed no executor to it, or the executor appointed has died or refuses to act. In this case the court will make the grant to the person, usually the residuary legatee, with the largest beneficial interest in the estate.
Administration de bonis non administratis occurs in two cases:
Administration durante minore aetate, when the executor or the person entitled to the general grant is under age.
Administration durante absentia, when the executor or administrator is out of the jurisdiction for more than a year.
Administration pendente lite, where there is a dispute as to the person entitled to probate or a general grant of letters the court appoints an administrator till the question has been decided.
| Politics | Business | Finance |
 |
 |
 |
|