Debt is when you are contracted to supply something, but have spent, or otherwise disposed of the assets or any payment already received in consideration of the expectation that the service will be provided!
e.g. contract (paid monthly in advance) for hosting and email, but system used to host that is rented, and back rent is owed to the owner of those facilities, or an intermediary renting out rented facilities goes bust in similar conditions And - there is also the outstanding staff pay, and severance due following the closedown of their works See that's just from experience, no business major diploma needed to get shifted out of what seemed a good position. JimB ----- Original Message ----- From: "Wayne Johnson" <[EMAIL PROTECTED]> To: <[email protected]> Sent: Wednesday, June 07, 2006 6:30 PM Subject: Re: aol tricks/UK > At 11:49 AM 6/7/2006, Hugh Gundersen typed: > >I know that US law is slightly different but over here as over there one > >can buy the assets of a company and NOT it's debts. > > No I don't know how it works over there but over here the company > usually has to go to bankruptcy court before a purchase without the > debts can be accomplished but yes it can be done & it helps keep > those unemployed lawyers off the street. ;-) FWIW I wouldn't think > that a company that is selling a service to a client that is paying > regularly would be called a debt as I rather thought that as an asset > whether the company collapses for other reasons or not. Gee, maybe > the business major diploma isn't worth the paper it's written on. > Next time I'll have to buy one from a better outfit. Maybe the same > places that sell A+ certifications would work. What do you think ? > > ----------+---------- > Wayne D. Johnson > Ashland, OH, USA 44805 > <http://www.wavijo.com> > > -- > ---------------------------------------- > To unsubscribe, mailto: [EMAIL PROTECTED] > Is your picture included in the Official Win-Home List Members Profiles Page? > http://www.besteffort.com/winhome/Profiles.html > If not, write to: [EMAIL PROTECTED] > > > -- ---------------------------------------- To unsubscribe, mailto: [EMAIL PROTECTED] Is your picture included in the Official Win-Home List Members Profiles Page? http://www.besteffort.com/winhome/Profiles.html If not, write to: [EMAIL PROTECTED]
