MRL3701 Assessment 2 Semester 2 DUE 20 September 2024
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Course
Insolvency Law (MRL3701)
Institution
University Of South Africa
Book
Insolvency Law
MRL3701 Assessment 2 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 20 September 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)...........
Assignment 02
OPENS FOR SUBMISSION: 13 September ...
MRL3701 Assignment 2 Due 20 September 2024 (Detailed solution)
MRL3701 Assignment 1 Full Solutions Semester 2 2024 - DUE 30 August 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions.
MRL3701 Assignment 1 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 30 August 2024
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MRL3701
ASSIGNMENT 2 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 20 SEPTEMBER 2024
, MRL3701 Assessment 2 Semester 2 2024
Assignment 02
OPENS FOR SUBMISSION: 13 September 2024
DUE DATE: 20 September 2024
This is an ordinary written or typed assignment. This assessment must be uploaded to
MyModules. No emailed submissions will be accepted. Do not use a mark-reading card.
Answering this question gives you practice in answering the type of problem- or
discuss-type questions that you may expect in the examination.
Your answer should not exceed two (2) pages (excluding the Cover Page, Bibliography or the
Honesty Declaration Form). You may reference your sources as you wish, i.e. in-text, or in
footnotes. A bibliography is not needed but remember to include your Honesty Declaration
Form. You can find it for your convenience on MyModules under announcements.
Make sure that you follow the upload instructions on how to upload your answer sheet on
MyModules, as no emailed submissions will be marked.
In this particular assessment we are testing your knowledge on the study of case law and
legislation, so that you may be able to apply that to a factual scenario. We have noted
that many students do not prepare adequately and timeously for assessments and then have
no time to learn the case law when the examination draws near. With the exercise below, we
are hoping to try to assist you with getting a good start to understanding case law.
Remember that lecturers do not under any circumstances send to students the cases.
Please refer to Tutorial Letter 101 where you can find instructions on how to download
the cases from the Unisa Library E-Reserves.
Simphiwe owes a total of R3 million to various creditors. His creditors include Tebogo to whom
he owes R400 000. He also owes R1,3 million to BFN Bank.
Last year Simphiwe invested in a get-rich-quick scheme and as a result he lost a lot of money.
This left him in a dire financial situation. By 31 October 2023 his liabilities exceeded his assets
by R800 000. Over the past few months Simphiwe has failed to pay some of his debts. In
particular he failed to pay the R400 000 he owes to Tebogo. This debt was due and payable
on 1 February 2024.
Disappointed at not having been paid back the R400 000 owed to her, Tebogo undertook an
investigation into Simphiwe’s financial situation. The investigation turned up unassailable
proof that Simphiwe had owed R100 000 to his father-in-law, and that Simphiwe repaid
R80 000 to his father-in-law on 3 February 2024. Mindful that he was technically insolvent and
that one of his creditors could apply for the sequestration of his estate at any time, Simphiwe
had wanted to ensure that whatever happened, his father-in-law would at least get something
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