A Liquidator Is Required to Keep Proper Records, Containing Entries

question 10

True/False

A liquidator is required to keep proper records, containing entries and proceedings of meetings.

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Definitions:

Consideration

In contract law, something of value exchanged between parties, which is a necessary element for the formation of a legally binding contract.

Not Responsible

A declaration or disclaimer denoting that a party claims no liability or accountability.

Maintenance

The act of preserving, repairing, and keeping property, equipment, or systems in working order or in a condition to serve its intended purpose.

Delusion

A false belief or impression that is held despite invalidating evidence, often as a symptom of a psychiatric disorder.