Definition of heir. 1  1 : one who receives property from an ancestor : one who is entitled to inherit property was her father's sole heir. 2  2 : one who inherits or is entitled to succeed to a hereditary rank, title, or office heir to the throne.
A charge will be void unless it is registered within 21 days and, as a consequence, will be void against a liquidator, administrator or any creditor of the Company. The petitioners were therefore left unsecured unless the court allowed them to register their charges late.
Sole Proprietorship Transaction #7. On December 7, 2015 ASC uses a temporary help service for 6 hours at a cost of $20 per hour. ASC will pay the invoice when it is due in 10 days. The effect on its accounting equation is: ASC's liabilities increase by $120 and the expense causes owner's equity to decrease by $120.