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...
Maria's and Martin's Cases: Application for Compulsory Sequestration
Analysis and Guidance on Sequestration Applications
To address the issues raised, we will examine each scenario separately, focusing on
the applicable legal principles, requirements for sequestration, and the likelihood of
success for Maria in her applications. Relevant legislation, primarily the Insolvency Act
24 of 1936, will be cited throughout.
1. Compulsory Sequestration of Eric’s Estate
Maria wishes to apply for the compulsory sequestration of Eric’s estate due to an unpaid
debt of R24,000. To succeed in this application, Maria must meet the following
requirements as outlined in the Insolvency Act 24 of 1936:
Requirements:
1. The debtor (Eric) has committed an act of insolvency or is factually
insolvent
o An act of insolvency is defined in section 8 of the Act. Relevant acts
include:
Section 8(c): If the debtor writes a letter indicating an inability to
pay debts and requests arrangements (e.g., installments).
Section 8(g): If the debtor admits inability to pay debts.
o Factually insolvent means Eric’s liabilities exceed his assets.
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