mrl3701 exam pack 2021

Contents MRL3701 OCTOBER/ NOVEMBER 2011 ....................................................................................................2 MRL 3701 MAY / JUNE 2012.....................................................................................................................5 OCTOBER / NOVEMBER 2012 ...................................................................................................................8 MRL3701 MAY/JUNE 2013......................................................................................................................11 MRL3701 OCTOBER/NOVEMBER 2013...................................................................................................15 MRL 3701 MAY – JUNE 2014...................................................................................................................19 LSLSS 2 MRL3701 OCTOBER/ NOVEMBER 2011 Question 1 (a) Creditors (b) Free residue (c) Advantage (d) 8 (e) Confirmed (f) Huurgaat Voorkoop (g) High court (h) First meeting (i) Sequestration (j) Pauliana (k) Retention (l) Impeachable (m)Vorster V Steyn no en Andere (n) Special (o) Value (p) Voidable preferences (q) Legal test (r) Statement of affairs (s) In the ordinary course of that business Question 2 1. F 2. F 3. F 4. T 5. F 6. T LSLSS 3 7. F 8. T 9. F 10. F 11. T 12. F 13. F 14. T 15. F Question 3 (a) (i) Epstein v Epstein 1987 (4) SA 606 (C) (a) (ii) Friendly sequestrations (iii) section 8(g) (iv) Advantage to creditors in insolvency proceedings (v)Craggs v Dedekind, Baartman v Baartman & another, Van Jaarsveld v Roebuck, Van Aardt v Borrett 1996 (1) SA 935 (C) (b) In terms of section 20(1), sequestration has the effect of divesting the insolvent of his estate and vesting it in the master and thereafter in the trustee on his appointment. The estate includes all property belonging to the insolvent at the date of sequestration, property acquired by him during sequestration, except property which is excluded by section 23. Household property and other means of subsistence are excluded, but only in so far as provided for by the master or the creditors. Antique furniture constitutes collector’s items, not household goods or other means of subsistence. Antique furniture therefore forms part of Tenza’s insolvent estate. (c) (1) Property owned before marriage to the insolvent. (2) Property acquired under a marriage settlement. (3) Property acquired by marriage settlement during the marriage. (4) Property protected under certain other provision (e.g. insurance legislation) (5) Property acquired with proceeds of the above. LSLSS 4 (d) Section 34(1) of the insolvenc