MRL3701 Assignment 1 (QUESTIONS & ANSWERS) Semester 1 2025 - DUE 25 March 2025 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)...........
Maria approaches you for advice. He informs you that his brothe...
MRL3701
ASSIGNMENT 1 SEMESTER 1 2025
UNIQUE NO.
DUE DATE: 25 MARCH 2025
, MRL3701
Assignment 1 Semester 1 2024
Unique Number:
Due Date: 25 MARCH 2025
Insolvency Law
Question 1: Application for Compulsory Sequestration of Eric’s Estate
Requirements for Compulsory Sequestration
To apply for the compulsory sequestration of Eric’s estate under the Insolvency Act 24
of 1936, Maria must meet the following criteria:
1. The debtor must have committed an act of insolvency or be factually
insolvent:
Section 8 of the Insolvency Act outlines acts of insolvency, including:
Section 8(a): Failure to satisfy a judgment debt or inability to pay
debts.
Section 8(g): A written admission of inability to pay debts.
In this case, Eric’s letter to Kenneth admitting his inability to pay debts
constitutes an act of insolvency under section 8(g).
Maria can also demonstrate that Eric has failed to pay the R24,000 owed for
pool cleaning services despite multiple attempts to recover the debt, which
supports section 8(a).
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