MRL3701 ASSIGNMENT 1 MEMO - SEMESTER 1 - 2024 UNISA – DUE DATE: - 14 MARCH 2024 (DETAILED ANSWERS WITH FOOTNOTES AND A BIBLIOGRAPHY - DISTINCTION GUARANTEED!)
Question 1: (5 marks)
Indicate whether the following statements are TRUE (T) or FALSE (F) and provide a
reason or explanation for you...
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MRL3701
INSOLVENCY LAW
ASSIGNMENT 1 MEMO
SEMESTER 1 – 2024 - UNISA
UNIQUE NUMBER: - 686262
DUE DATE: - 14 MARCH 2024
Includes Footnotes and/or Bibliography.
ASSIGNMENT PREVIEW
SEE PAGE 1
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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.
b. During the period of insolvency, an insolvent is not allowed to acquire a new estate.
c. The insolvent may recover for his own benefit any pension to which he may be entitled
as this forms part of property that does not fall into the insolvent estate.
d. An insolvent who brings an action in the Magistrate’s Court is obliged by Rule 62(1)(b)
of the Magistrate’s Court Rules to give security for the costs of the action if the defendant
requests it.
e. A debtor who has no assets and only liabilities can surrender his estate. (5)
a. TRUE –
An act of insolvency committed by a spouse married in community of property operates as an
act of insolvency by the guilty spouse. In a community of property marriage, the financial
affairs of both spouses are intertwined, and an act of insolvency by one spouse affects the
joint estate.1
1
Insolvency Act 24 of 1936
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