First examiner: Mrs Z Taljaard
Second examiner: Ms E Mbiriri
, lOMoAR cPSD| 48047628
CONFIDENTIAL
3 of 11
MRL3701
May/June 2024
Question 1
1.1 When a debtor is sequestrated, a Master is appointed to administer the estate. Answer the
following questions regarding the appointment of the Master: (5)
(a) In terms of which piece of legislation is the Master appointed? [1]
(b) What is the pivotal role and function of the Master? [2]
(c) What is meant by saying the Master is a “creature of statute”? [2]
1.2 Certain sections of the Insolvency Act 24 of 1936 have been amended over time, but
it remains one of the oldest statutes of general application still in force. It is therefore
difficult to synchronise the application of the Act with legal, economic, technological
and commercial advances. It is imperative that the South African Insolvency Law be
reformed. Discuss five (5) initiatives that have been identified that can assist in law
reform. (5)
1.3 The Eastern Cape High Court has given a judgment of R80 000 against Jonah in favour
of Zanele. Upon the demand of the officer whose duty it is to execute the judgment,
Jonah fails to satisfy it and also fails to indicate to the officer disposable property
sufficient to satisfy the judgment. The return made by the officer states that he has not
, lOMoAR cPSD| 48047628
CONFIDENTIAL
4 of 11
MRL3701
M
a
y
/
J
u
n
e
2
0
2
4
found sufficient disposable property to satisfy the judgment. Explain to Zanele what the
implications of the aforementioned facts may be. (10)
1.4 See the table below and match the columns to answer the following questions. You
must therefore match three columns; case name, ratio decidendi of the case, and area
of Insolvency Law applicable and answer the question as follows on your exam answer
sheet (see example below). (15) EXAMPLE:
1. Case name: Joint Liquidators of Glen Anil v Hill Samuel 1982 (1) SA 103 (A).
2. Ratio decidendi of the case: The bonds in favour of Hill Samual did confer a
preferent status.
3. Area of Insolvency Law applicable: Special Mortgages.
Case Name: (1/2) Ratio decidendi of the case: (1) Area of
Insolvency Law
applicable:
(1/2)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mulah11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R60,00. You're not tied to anything after your purchase.
