Administration is the appointment by a court of a person to manage the affairs of a company which is in difficulties

Webster Dictionary Meaning

1. Administration
- The act of administering; government of public affairs; the service rendered, or duties assumed, in conducting affairs; the conducting of any office or employment; direction; management.
- The executive part of government; the persons collectively who are intrusted with the execution of laws and the superintendence of public affairs; the chief magistrate and his cabinet or council; or the council, or ministry, alone, as in Great Britain.
- The act of administering, or tendering something to another; dispensation; as, the administration of a medicine, of an oath, of justice, or of the sacrament.
- The management and disposal, under legal authority, of the estate of an intestate, or of a testator having no competent executor.
- The management of an estate of a deceased person by an executor, the strictly corresponding term execution not being in use.
Category: Economics
Share it:  Cite

More from this Section

  • Arbitrage
    Arbitrage simply means finding two things that are essentially the same and buying cheaper ...
  • Unqualified Opinion
    An Unqualified Opinion is an opinion that accountants provide after evaluating financial ...
  • Escrow Disbursement
    In property investment, an Escrow Disbursement is a procedure of distributing funds held ...
  • Financial Power of Attorney
    Financial Power of Attorney is a legal method that allows people to select somebody to ...
  • Production
    Production is the process by which human labour (or “work”) is applied, usually with ...