MRL3701 Assignment 1/ Semester 1 2024
Fully REFERENCED Work - Footnotes & Bibliography
Extracts from Hockly's Textbook and Only Study Guide for Insolvency with three PARAPHRASED ANSWERS per Question to choose from.
Writing an assignment was never this easy
Indicate whether the following statements are TRUE (T) or FALSE (F) and
provide a reason or explanation for your answer.
a) An act of insolvency committed by a spouse married in community of property
operates as an act of insolvency by the guilty spouse.
Extract from Hockly’s Insolvency Law
False, an act of insolvency committed by a spouse to a marriage in
community of property operates as an act of insolvency by both
spouses and, accordingly, is a good ground for sequestration of the
joint estate (Standard Bank of SA Ltd v Sewpersadh & another 2005 (4)
SA 148 (C) 152-3).1
Paraphrased Options:
Option 1:
False, according to Standard Bank of SA Ltd v Sewpersadh and others 2005
(4) SA 148 (C) 152-3, a spouse's act of insolvency within a community of
property marriage functions as an act of insolvency by both spouses and, as
such, is a valid reason for the joint estate to be sequestrated.
Option 2:
False, a spouse in community property marriage who commits an act of
insolvency serves as a good basis for sequestration of the joint estate
because it functions as an act of insolvency by both spouses (Standard Bank
of SA Ltd v Sewpersadh and another 2005 (4) SA 148 (C) 152-3).
Option 3:
1
Robert Sharrock, Kathleen van Der Linde and Alastair Smith Hockly’s Insolvency Law (9 edn, 2012,
Juta & Co) 36.
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