A +
ASSIGNMENT PREVIEW
SEE PAGE 1
DISTINCTION GUARANTEED!!! Footnotes and/or
Bibliography included. *
Disclaimer
Extreme care has been used by our Tutors to draft this document, however the contents are provided “as is” without any representations or warranties, express or implied. Th
document is to be used for comparison, research, and reference purposes ONLY. No part of this document may be reproduced, resold, or transmitted in any form or by any mea
without prior written permission from the Author. By making use of this document, you agree to fully accept the consequences should you plagiarise or misuse this document. – STU
BUDDY TUTOR SA
PAST PAPERS & MEMOS, ASSIGNMENT MEMOS, NOTES, SUMMARIES & TUITON
Cell: 062 810 8624 Email:
, 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 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
ASSIGNMENT PREVIEW
SEE PAGE 1
DISTINCTION GUARANTEED!!! Footnotes and/or
Bibliography included. *
Disclaimer
Extreme care has been used by our Tutors to draft this document, however the contents are provided “as is” without any representations or warranties, express or implied. Th
document is to be used for comparison, research, and reference purposes ONLY. No part of this document may be reproduced, resold, or transmitted in any form or by any mea
without prior written permission from the Author. By making use of this document, you agree to fully accept the consequences should you plagiarise or misuse this document. – STU
BUDDY TUTOR SA
PAST PAPERS & MEMOS, ASSIGNMENT MEMOS, NOTES, SUMMARIES & TUITON
Cell: 062 810 8624 Email:
, 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 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
