Time Relevance of Expense: commission deductible when incurred; restructuring transfers, lease obligations upheld; unenforceable sale agreement bars l...
Page of 4807
Press 'Enter' after typing page number.
6021 to 6040 of 96140 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Interpretation of loan agreement clauses treated monthly interest payable in advance as an event of default, so non-payment of interest triggers default and permits the lender to accelerate the debt and demand principal notwithstanding the stated loan term; a clause delaying sale of mortgaged property does not bar acceleration on interest default. Because interest remained unpaid, the petition under the insolvency law was properly admitted and remitted for further proceedings at the tribunal. The appellate tribunal set aside the impugned dismissal and directed listing before the adjudicating authority for continuation of the Section 7 process.
Interpretation of loan agreement clauses treated monthly interest payable in advance as an event of default, so non-payment of interest triggers default and permits the lender to accelerate the debt and demand principal notwithstanding the stated loan term; a clause delaying sale of mortgaged property does not bar acceleration on interest default. Because interest remained unpaid, the petition under the insolvency law was properly admitted and remitted for further proceedings at the tribunal. The appellate tribunal set aside the impugned dismissal and directed listing before the adjudicating authority for continuation of the Section 7 process.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
