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  3. University Of South Africa (Unisa)
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  5. MRL3701 - INSOLVENCY LAW (MRL3701)

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MRL3701 Assignment 1/ Semester 1 2024
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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

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  • January 18, 2024
  • 12
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • mrl3701 assignment 1 semester 12024

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Insolvency Law

MRL3701

Department of Mercantile Law

Assessment 1 Questions

Semester 1 – 2024


Written by

Camecia Cass




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ANSWER

, Assessment 01:

Question 1: (5 marks)

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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