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effect of disclaimerthe trustee may disclaim onerous property consisting ofland burdened with onerous covenantsstocks and sharesunprofitable
disclaimer of onerous property1 effect of disclaimerthe trustee may disclaim onerous property consisting of land burdened with onerous covenants
assignments of book debtsthe trustee can set aside an assignment of existing or future book debts whether absolute or by way of charge unless the
fraudulent preferencesthe trustee can set aside any transaction effected within the six months preceding the presentation of the petition in
agreements to settle propertythe trustee is not bound by such an agreement if it remains executory if property has already been settled the trustee
voluntary settlementsthe trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless
property transferred before bankruptcya voluntary settlementsthe trustee can claim all property settled by the bankrupt on other persons within two
property in bankrupts reputed ownershipthe trustee may claim property owned by third parties which is in the bankrupts possession at the commencement
after-acquired propertyall property acquired by the bankrupt between the commencement of bankruptcy and his discharge passes to the trustee except as
completed executionsa judgement creditor cannot retain the benefit of an execution or attachment unless he has completed it-before the date of the
protected transactionsthese fall into three categoriesa under section 50payments by the bankrupt to creditorspayments or deliveries to the
debtors property at commencement of bankruptcy1 doctrine of relation backthe trustees title to the debtors property is deemed to relate back to the
divisible propertythe property of the bankrupt divisible among creditors includesproperty belonging to the bankrupt at the commencement of the
termination of office of trusteethe trustee may vacate office in the following ways1 resignationhe may resign at a meeting of creditors and with
resolutions of creditorsnormally decisions at meetings of creditors are taken by ordinary resolution viz a resolution passed by a simple majority in
accounts of trusteesthe trustee must keep proper books of account which may be inspected by the creditors at any time the cash book must be audited
right of indemnityif the official receiver or trustee has seized or disposed of any property in the possession of the debtor without notice or claim
powers of trusteea of his own initiative he may1 sell and transfer any part of the bankrupts property2 gives receipts for
rights and duties of trusteethe rights and duties of trustee are as followspowers of trustee sell and transfer any part of the bankrupts
committee of inspectionappointmenta committee of inspection may be appointed by the creditors at their first or any subsequent meeting to supervise
the trustee in bankruptcy1 appointment of trusteethe trustee is appointedby the creditors by ordinary resolution orby the committee of inspection if
effect of dischargean order of discharge releases the bankrupt from all disabilities imposed by the bankruptcy except those which apply for a fixed
application of dischargeapplication may be made at any time after adjudication but cannot be heard until the conclusion of the public examination
annulment of orderthe order may be annulled ifin the opinion of the court the debtor ought not to have been adjudicated bankruptall the debts have
consequences of adjudicationthe consequences of the making of the adjudication order are1 the order must be advertised in the gazette and a local