fraudulent trading
Carrying on business with the intention of defrauding creditors or for any other fraudulent purpose, for example accepting advance payment for goods with no intention of supplying the goods or returning the payment. Such conduct is a criminal offence (Companies Act 2006 s 993) and can lead to civil liability under section 213 of the Insolvency Act 1986, where the court may order those responsible to contribute to the company’s assets on a winding-up. Cases: Re Patrick & Lyon Ltd [1933] Ch 786; Re Maidstone Building Provisions Ltd [1971] 1 WLR 1085. See also wrongful trading.

• personal allowances
• personal chattel
• personal company
• personal contract
• personal-credit agreement
• Personal Independence Payment
• personal property
• personal protection order
• personal representative
• personal right
• personal service
• personalty
• personal union
• persona non grata
• per stirpes
• persuasive authority
• persuasive burden of proof
• perverse verdict
• perverting the course of justice
• petition
• petition of right
• petroleum revenue tax
• petty patent
• petty sessions
• PHE