COURSE: EXECUTORSHIP, TRSUTEESHIP AND BANKRUPTCY
COURSE CODE: ACC 312
LECTURERS: DR. UGWU JAMES IKE AND DR.UGWU OSMUND.C
DEPARTMENT: ACCOUNTING AND FINANCE
GODFREY OKOYE UINVERSITY, ENUGU.
CONTENTS
Introduction 1
Nature of a WILL 2
Formal requirement of a WILL 2
Customary Law and Family property 4
Executorship Account 5
Rules guiding Estate Distribution 12
Trust Account 19
Trust and Trustee 19
Creation of Trust(classification of Trust) 19
Formalities for creation of Trust 20
Certainties of Trust 20
Capacity to Create Trust 20
Appointment of Trustee 21
Removal of a Trustee 22
Duties of Trustees 22
Powers of Trustees 23
What constitute Breach of Trust 24
Distribution to Beneficiaries at Maturity 25
Bankruptcy laws 27
Introduction 27
Act of Bankruptcy 28
Sanctions against Adjudged Bankrupt 32
Duties of Trustees/ Liquidators in Bankruptcy 36
Discharge of Bankruptcy 37
Statement of Affairs 38
Remedy to Bankruptcy 42
- Lecturer : CHINWEODA OSMUND UGWU