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They will sell to a company that specializes in store liquidation instead of attempting to run a store closure sale themselves.The parties who are entitled by law to petition for the compulsory liquidation of a company vary from jurisdiction to jurisdiction, but generally, a petition may be lodged with the court for the compulsory liquidation of a company by: The grounds upon which one can apply for a compulsory liquidation also vary between jurisdictions, but the normal grounds to enable an application to the court for an order to compulsorily wind-up the company are: A "just and equitable" winding-up enables the grounds to subject the strict legal rights of the shareholders to equitable considerations.In addition, the term "liquidation" is sometimes used when a company wants to divest itself of some of its assets.

As applied to a company, (or sometimes to the affairs of an individual,) liquidation is used in a broad sense as equivalent to "winding up;" that is, the comprehensive process of settling accounts, ascertaining and adjusting debts, collecting assets, and paying off claims.

One reason for this is that the enforcement of the term would, in effect, require an equitable order of specific performance.

However, courts sitting in equity will seek to achieve a fair result and will not enforce a term that will lead to the unjust enrichment of the enforcing party.

3077]§ 2304 - Contracts: competition requirements§ 2304a - Task and delivery order contracts: general authority§ 2304b - Task order contracts: advisory and assistance services§ 2304c - Task and delivery order contracts: orders§ 2304d - Task and delivery order contracts: definitions§ 2304e - Contracts: prohibition on competition between Department of Defense and small businesses and certain other entities§ 2305 - Contracts: planning, solicitation, evaluation, and award procedures§ 2305a - Design-build selection procedures§ 2306 - Kinds of contracts§ 2306a - Cost or pricing data: truth in negotiations§ 2306b - Multiyear contracts: acquisition of property§ 2306c - Multiyear contracts: acquisition of services§ 2307 - Contract financing§ 2308 - Buy-to-budget acquisition: end items§ 2309 - Allocation of appropriations§ 2310 - Determinations and decisions§ 2311 - Assignment and delegation of procurement functions and responsibilities§ 2312 - Remission of liquidated damages§ 2313 - Examination of records of contractor§ 2313a - Defense Contract Audit Agency: annual report§ 2314 - Laws inapplicable to agencies named in section 2303 of this title§ 2315 - Law inapplicable to the procurement of automatic data processing equipment and services for certain defense purposes§ 2316 - Disclosure of identity of contractor§ 2317 - Repealed.

1704]§ 2318 - Advocates for competition§ 2319 - Encouragement of new competitors§ 2320 - Rights in technical data§ 2321 - Validation of proprietary data restrictions§ 2322 - Repealed.




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