What does in the ordinary course of business mean?
The ordinary course of business is a standard used to indicate within a specified period, a business: Has been conducted consistently within the scope of past commercial customs and practices. Has not incurred any liabilities outside the day-to-day operations.
What is an Ordinarie?
ordinary. noun. plural ordinaries. Definition of ordinary (Entry 2 of 2) 1 : the regular or customary condition or course of things —usually used in the phrase out of the ordinary We haven’t done anything out of the ordinary.
What is ordinary course of business under Companies Act 2013?
defines ‘ordinary course of trade’, as in anti-dumping law, to mean that “sales are considered to be in the ordinary course of trade when the sales are not affected by any relationship between the buyer and the sellers are based on commercial considerations and are at arm’s length”, “this phrase indicates the current …
What means usual course?
More Definitions of ordinary and usual course of business ordinary and usual course of business means an action taken by a Person that is in the ordinary course of business of such Person and consistent with the past practices of such Person or with reasonable practices in the industry in which the Person operates.
What is an ordinary business?
Ordinary Business means business to be transacted at an Annual General Meeting relating to (i) the consideration of financial statements, consolidated financial statements, if any, and the reports of the Board of Directors and Auditors; (ii) the declaration of any dividend; (iii) the appointment of Directors in the …
What is the meaning of course of business?
The ordinary meaning of the expression ‘in the ordinary course of business in dictionaries is part of doing regular business; the regular or customary condition or course of things; as things usually happen. According to the Black’s law Dictionary it means the normal routine in managing a trade or business.
What is ordinary person?
adjective [usually ADJECTIVE noun] Ordinary people or things are normal and not special or different in any way.
What is ordinary pronoun?
I, you, he, she, it, we they, me, him, her, us, and them are all personal pronouns.
How do you determine ordinary course of business?
To establish an ordinary course of business defense (often called the “subjective” test), the creditor must show (i) that the transfer at issue was in payment of a debt incurred by the debtor in the ordinary course of business or financial affairs of the debtor and the transferee, and (ii) that the transfer was made in …
What is ordinary business law?
What is the ordinary business of an annual general meeting?
Attend and vote at Annual General Meetings (AGM) The ‘ordinary’ business of the AGM is repeated every year and includes accepting the company’s accounts for the year and fixing the proportion of a company’s profits that will be paid back to shareholders as a dividend.
What is ordinary event?
Definition of normal/ordinary course of events : the way things usually happen It’s something you would never see in the normal/ordinary course of events.
What is the legal definition of ordinary course of business?
legal Definition of ordinary course of business. : the usual manner and range of a business especially considered in relation to the amount, circumstances, and validity of a particular transfer. the bankruptcy trustee voided a transfer that was not in the ordinary course of business.
Is the transaction agreement in the ordinary course of business?
The transaction agreement either permits certain acts because they are in the ordinary course of business, warrants that various acts have been conducted in the ordinary course, or requires that an approval is obtained for certain acts outside the ordinary course.
Which is an example of an ordinary course test?
Albeit that such standard of conduct implies a vague term, it does achieve an appropriate objective standard of measurement. Examples. Clauses in which the ordinary course test typically appears are in seller’s warranties and the covenants addressing the period between the transaction’s effective date (or signing) and completion.