Principles of the Administration of Assets in Payment of Debts
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In our eReader you can find the full English version of the book. Read Principles of the Administration of Assets in Payment of Debts Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of the Administration of Assets in Payment of Debts
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To quickly assess the difficulty of the text, read a short excerpt:
' Job V. Job, 6 Ch. D. 562.
' Berrji v. Gibbotis, 8 Ch. App. 747 ; Garner v. Mooiv, 3 Dr.
277.
JUDGMENT IN CREDITOR'S ACTION. 11 In the case I have supposed all the assets ■ would necessarily be legal assets, and the payment of the debts and funeral (and testamentary) expenses in due course of administration would be their payment out of such assets in that order of priority, which was prescribed by the Common Law, and which the executor would out of Court have himself been bound to adopt.
12 C...HAPTER 11.
ORDER OF PRIORITY IN PAYMENT OF DEBTS.
First, with respect to the funeral and testamentary expenses.
The reasonable expenses of the funeral are always allowed as a first charge, and the executor is hable to pay them out of the assets, even where he has not himself given the order, it being part of his official duty to bury the deceased.^ Testamentary expenses (often called executorship expenses) would include all such as are incident to the proper performance of the duty of an executor — e.g., the costs of probate ; of collecting the effects of the deceased; of ascer- taining the debts and liabilities ; of obtaining proper professional assistance ; of taking care of the specific legacies and of any other assets pending distribution ; and of applications to the Court for administration or otherwise, which the circumstances of the case might render necessary or desirable.^ With respect to the debts, it was at one time the practice that only those which were actually due at ^ Hancock v.
What to read after Principles of the Administration of Assets in Payment of Debts?
You can find similar books in the "Read Also" column, or choose other free books by Eddis, Arthur Shelly, 1817-1893 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
' Job V. Job, 6 Ch. D. 562.
' Berrji v. Gibbotis, 8 Ch. App. 747 ; Garner v. Mooiv, 3 Dr.
277.
JUDGMENT IN CREDITOR'S ACTION. 11 In the case I have supposed all the assets ■ would necessarily be legal assets, and the payment of the debts and funeral (and testamentary) expenses in due course of administration would be their payment out of such assets in that order of priority, which was prescribed by the Common Law, and which the executor would out of Court have himself been bound to adopt.
12 C...HAPTER 11.
ORDER OF PRIORITY IN PAYMENT OF DEBTS.
First, with respect to the funeral and testamentary expenses.
The reasonable expenses of the funeral are always allowed as a first charge, and the executor is hable to pay them out of the assets, even where he has not himself given the order, it being part of his official duty to bury the deceased.^ Testamentary expenses (often called executorship expenses) would include all such as are incident to the proper performance of the duty of an executor — e.g., the costs of probate ; of collecting the effects of the deceased; of ascer- taining the debts and liabilities ; of obtaining proper professional assistance ; of taking care of the specific legacies and of any other assets pending distribution ; and of applications to the Court for administration or otherwise, which the circumstances of the case might render necessary or desirable.^ With respect to the debts, it was at one time the practice that only those which were actually due at ^ Hancock v.
What to read after Principles of the Administration of Assets in Payment of Debts?
You can find similar books in the "Read Also" column, or choose other free books by Eddis, Arthur Shelly, 1817-1893 to read onlineMoreLess
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