What is a contract? In a legal sense, a contract is more than just an agreement between two people. There are five basic elements that must be satisfied for a contract to be properly formed; the absence of one or more of these elements may cause a court to find that the contract is not…
What is a voluntary administration? Voluntary administration is an insolvency procedure where the directors of a financially troubled company or a secured creditor with a charge over most of the company’s assets appoint an external administrator called a ‘voluntary administrator’. The role of the voluntary administrator is to investigate the company’s affairs, to report to…
