MRL3701 ASSIGNMENT 1 MEMO - SEMESTER 1 - 2024 - UNISA – DUE DATE: - 14 MARCH 2024 (DETAILED ANSWERS - FULLY REFERENCED - GUARANTEED A+!)
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 an...
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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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