(1) A charge over present and future book debts, where the chargor was required to collect and place those debts in a designated account with the chargee bank, but the chargor was free to draw on the account for its business purposes provided the overdraft limit was not exceeded, was in law a floating charge even if it was expressed as being a fixed charge. (2) The unrestricted use by the chargor of the proceeds in the account was inconsistent with a fixed charge since it allowed the debt and ...
|
Where a consignment of vodka was released by a taxpayer company from its bonded warehouse under an excise duty suspension arrangement and was subsequently fraudulently diverted, the company was liable to duty in respect of it.
|
In default of an indication to the contrary, the parties to a commercial agreement were supposed to have intended that changes to indexes to measure price increases would be made in accordance with the normal commercial practice of index-linking.
|
| 1 |